EU executive disagrees with S&P’s Greece downgrade

Thursday, 31 March 2011 01:32 - - {{hitsCtrl.values.hits}}

BRUSSELS, (AFP) -The European Commission criticised on Wednesday a decision by credit ratings agency Standard & Poor’s to downgrade Greece’s sovereign debt rating.

“We don’t share that assessment,” said Amadeu Altafaj Tardio, spokesman for EU economic affairs commissioner Olli Rehn, when asked to comment on the downgrade.

“We have our own assessment, and it’s not the one of the agency you mentioned,” Altafaj told a news briefing.

S&P downgraded its credit rating on Greece by two notches to BB- on Tuesday, saying that investors in their bonds could lose out under the terms of a new eurozone bailout system.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.