European stocks opened down today's meeting, after Standard & Poor's warned it may downgrade ratings of 15 of the 17 euro area countries, including Germany, France and the other four countries AAA if the EU summit on Friday will not bring a solution to the crisis, reports Reuters.

FTSEurofirst 300 index of the most important European shares fell 0.7% up at 8:03 GMT (10:03 GMT), after rising by 10.4% in the last week due to hopes that EU leaders agree Friday, a decisive and credible plan to resolve the debt crisis of euro area countries.

Banks, debt crisis severely affected the state, recorded the strongest decline in the early session.

Stoxx Europe 600 bank index is down Banks 1.4%.

"S & P noted that all issues are still unresolved in the euro area will have a real impact on the region. But I do not think that the market will total loss increases from last week, as investors hoped that the S & P warning eurozone leaders urge action ", says one London analyst.