S&P lowers Greece's, Portugal and Spain's rating

First of all let me introduce myself since this is my first post on this forum.
I'm 22, living in Paris and working in the oil industry.
I keep track of the stock-market and the forex market on my free time and would like to become a full-time trader.
As I'm young and inexperienced I believe that staying humble and self critical are some keys to success. What I mean is that I have everything to learn. And for that I'm looking forward to share with you.

What brings me to the fact,
I was reading a post of NewstraderFX about long term trading and MFE's (--> http://www.forexfactory.com/showthread.php?t=172144) and I it got me wondering, is S&P lowering Greece's, Portugal and Spain's rating one of them?

The Euro has been going down for about 5 months now so is this news the continuation of the greek debt crysis leading to a lower euro? Or is this some unimportant news as they are lots every day for long term trends?

For myself I would put this in the MFE category as it describes an unstable budget situation in some countries of the EU. Lots of countries have the same problems around the world but right now people focus on EU countries' debt and that makes euro's weakness right now!
But how low are the EU's countries willing to let the euro weaken. I mean what would be the rate at wich it would become uncomfortable for the EU's economy. And finally could the EU counter this trend and how ?

Thanks for reading.

EU is benefiting from the weakened euro. The cheaper is the euro the lower is the competition for the goods produced by Germany, France, Italy and other EU exporters.

Of course this is offset for many by the fact that many of the raw materials are imported and a weaker euro means they cost more. Also fuel is linked in price to the price of a barrel of crude which is priced in dollars, so when the Euro weakens, the price of a gallon of fuel increases and hence delivery costs increase.