Standard & Poors announcement came the day after the EU reached a deal to overhaul the regions banking sector
Written by Reuters
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Credit agency Standard & Poors cut its triple-A rating of the European Union by one notch on Friday,saying it had concerns about how the blocs budget was financed,a view EU leaders and other officials dismissed as misguided.
Standard & Poors announcement came the day after the EU reached a deal to overhaul the regions banking sector,a pact many commentators said fell short of expectations,although S&P said it had not factored into its credit assessment.
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