Because the EU knows that the ECB will start printing $$$ like crazy, just like our Fed.
Don’t you know, Greenspan and Krugman say that debt doesn’t matter because we can print dollars to pay bondholders.
They truly think we are idiots, or that at least enough of us are.
Just... lol.
If anything the Commission knows about MORE FILTHY, DIRTY accounting than S&P.
This was a political statement to support political leaders in Europe who are feeling some very hot heat from their populations. It's also designed to slow the bank run now in progress in the Eurozone.
Who you gonna trust? Us, or your lying eye’s?