Dec 20 Standard & Poor's on Friday cut its
supranational long-term rating on the European Union to AA-plus
from AAA, citing rising tensions on budget negotiations and
following cuts to the ratings of member states in recent months.
"In our opinion, the overall creditworthiness of the now 28
European Union (EU) member states has declined," S&P said in a
"In our view, EU budgetary negotiations have become more
contentious, signaling what we consider to be rising risks to
the support of the EU from some member states."
S&P has had a negative outlook on the EU since January 2012
and has since cut its ratings on members France, Italy, Spain,
Malta, Slovenia, Cyprus and The Netherlands