- affirms EU short-term rating and outlook stable
EURUSD took a quick dip of a few ticks 1.3626 but back at 1.3635 now
Euro generally unfazed elsewhere but not good news still
S&P have had a long-term negative outlook for the EU since Jan 2012
Add:
- S&P cites rising tensions on budget negotiations
- the move follows cuts to ratings on member states in recent months
In our opinion the overall creditworthiness of the EU member states has declined
Budgetary negotiations have become more contentious, signalling what we consider to be rising risks to the support of the EU from some member states
More from S&P here
