European Central Bank policymakers criticize S&P for being too hasty to downgrade Greece,...

|By:, SA News Editor

European Central Bank policymakers criticize S&P for being too hasty to downgrade Greece, considering that negotiations on aid were ongoing. S&P says it has a mandate to act in real time, but ECB's Lorenzo Bini Smaghi says "This is (the) limit of ethical good practice and it will lead to a loss of credibility for these rating agencies."