Bloomberg News

Barnier Says S&P’s Warning Isn’t Retaliation Against EU Plans

December 06, 2011

Dec. 6 (Bloomberg) -- Michel Barnier, the European Union’s financial services chief, said that Standard & Poor’s downgrade warning to 15 euro-area governments was “a view and an opinion among others” and isn’t a retaliation against proposed EU measures to regulate ratings companies.

The European Commission has presented proposals to reduce reliance on ratings companies, he said in an e-mailed statement from Brussels today.

“It’s just an opinion,” he said of the ratings warning. “I don’t think that the agencies are avenging themselves against our proposals. I can’t imagine that.”

To contact the reporter on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at pchapman10@bloomberg.net


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