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EU debt crisis: Olli Rehn attacks credit downgrade

Europe's top economic official has criticised the decision by Standard and Poor's to downgrade the credit ratings of nine eurozone countries, including stripping France of its AAA rating.

Economic affairs commissioner Olli Rehn said it was an "inconsistent" move when the eurozone was taking "decisive action" to end the debt crisis.

Austria, Slovakia, Slovenia, Malta, Italy, Spain, Cyprus and Portugal also were downgraded - with Cyrpus and Portugal being reduced to "junk" ratings.

Joe Lynam reports.

  • 14 Jan 2012