DEBT FINANCING. Stock futures drop sharply on eurozone concerns

NEW YORK (Reuters)-U.S. stock index futures fell sharply on Monday as fears of a credit rating downgrade of French banks and the lack of a solution to the problem of Greece's debt increased concerns about eurozone debt crisis.
France's largest banks are preparing for a credit rating downgrade likely Moody, sources close to the situation, said on Saturday, further complicating efforts to assure investors that they are riding out the financing market tensions.
Several sources said BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA) and Credit Agricole (CAGR.PA) were waiting for a decision "imminent" of rating agency, which first put them under review for possible downgrade on 15 June.
Adding to the gloom was the failure of the weekend meeting of Finance Ministers of the Group of Seven Industrialized Nations to come up with any new proposals to boost global growth.
Greece on Sunday slammed a new tax on real estate connect a 2011 budget hole, please international creditors and secure a new loan tranche as key concerns mounted in Europe throughout its euro-zone members.
"The European sovereign debt issue is increasingly a concern. .. Without any data today to brush off some of the issues, the market is entirely focused on this issue, "said Peter Cardillo, Chief Economist of Global Capital market Rockwell in New York.
& S P 500 futures fell 21.6 points and were below fair value, a formula that evaluates to the prices, taking into account interest rates, dividends and expiration time of the contract. Future of the Dow Jones industrial average fell 160 points and Nasdaq 100 Futures fell 36.5 points.
U.s. stocks closed lower on Friday, shaken by the resignation of Juergen Stark, a member of the Executive Board of the European Central Bank and the Council of the ECB, which added to concerns about the ability of policymakers to deal with the debt crisis in Europe.
The Federal Reserve of the United States was interrogated Capital One Financial Corp. (COF.N) to determine whether the acquisition of ING Groep N.V. (ING.AS) online us banking institution would create a "too big to fail," said the Wall Street Journal.
The newspaper also said Amazon.com Inc (AMZN.The) is in talks with publishers of books on the launch of a media library service similar to Netflix Inc (NFLX.The) for tablets and other digital books.
European stocks fell, led by banking stocks, while Japan's Nikkei average fell to a year N225. fresh 2-1/2, closing at low.

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