Monti dismisses downgrade of 34 Italian banks | Bangkok Post: news

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Monti dismisses downgrade of 34 Italian banks

Italian Prime Minister Mario Monti dismissed news that Standard & Poor's had downgraded the credit ratings of 34 Italian banks on Friday as "mechanical."

Italian Prime Minister Mario Monti dismissed news that Standard & Poor's had downgraded the credit ratings of 34 Italian banks on Friday as "mechanical."

"These decisions by the rating agencies are largely the mechanical effects of previous decisions," Monti told CNBC hours after the announcement was made.

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Writer: AFP News agency
Position: Agence France-Presse

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