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S&P downgrades outlook for EU after Greece crisis
http://www.ekathimerini.com/200220/article/ekathimerini/business/sp-downgrades-outlook-for-eu-after-greece-crisis
S&P downgrades outlook for EU after Greece crisis
10:17
Standard & Poor's has changed the outlook for the European Union from stable to negative after the bloc's support for Greece and following Britain's decision to vote on leaving the EU, S&P reported Monday.
The decision means the US ratings agency could lower its grade of the European Union -- now at AA+ -- in the next two years.
"The EUs repeated use of its balance sheet to provide higher-risk financing to EU member states (most recently including Greece), without the member states' paying in capital," was one reason behind the revised outlook, S&P said.
The agency also said it expected the European bloc would provide first-loss guarantees for lending under the so-called Juncker Plan.
