Bloomberg News

Juncker Calls S&P Downgrade Warning ’Completely Excessive’

December 06, 2011

Dec. 6 (Bloomberg) -- Luxembourg Prime Minister Jean-Claude Juncker, who leads the group of euro-area finance ministers, called Standard & Poor’s warning that it may downgrade credit ratings across the euro area “completely excessive” and questioned its timing.

“This threat from the rating agency is like a knockout blow” to states scaling back their budgets, Juncker said in an interview on Deutschlandfunk radio today.

“I find what Standard & Poor is saying completely excessive -- I have to wonder that this news reaches us out of the clear blue sky at the time of the European summit; this can’t be a coincidence,” Juncker said.

To contact the editor responsible for this story: Patrick Donahue at pdonahue1@bloomberg.net


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