Italy has had the rating of its creditworthiness cut, the latest move in the European debt crisis.
Standard and Poor’s cut its rating by one level to A from A+, and said the outlook remained negative. The agency said weak growth may limit Rome’s ability to cut state spending and bring its finances in order.
Markets shrugged off the decision, while Italian Prime Minister Silvio Berlusconi said the move was influenced by “political considerations”.
Mr Berlusconi said the downgrade had been dictated more by stories in the media than by economic reality.
- BBC News