More from S&P: The agency faults the EU for focusing too much on cutting budgets and not...

|By:, SA News Editor

More from S&P: The agency faults the EU for focusing too much on cutting budgets and not recognizing the issues "are as much a consequence of rising external imbalances and divergences in competitiveness between the (core and the periphery)," i.e. Italian, Spanish, and Greek labor can't compete with Germany.