Eurozone leaders are putting on a brave face after nine countries had their credit ratings downgraded by Standard and Poor's. France and Austria lost their coveted AAA ratings - as did the continent's bailout fund, the European Financial Stability Facility.
Joining Aditya Chakrabortty this week to explain the significance of the controversial move by S&P we have the Observer's economics editor Heather Stewart and the Guardian's Paris correspondent Angelique Chrisafis.
Also this week: as the Occupy movement begins to look forward to a "spring offensive" we hear from one of the leading philosophers behind its success so far. David Graeber has been instrumental in the Wall Street occupation and is the author of an influential new book Debt: The First 5,000 Years.
He discusses the ethics of unpayable debt and what a new generation of campaigners can do to influence politicians. He also provides his own recommendations for which writers should feature in every Occupy library.
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