Brussels downgraded as EU prepares credit rating move

Brussels, home to the majority of the EU's institutions, has seen its credit rating outlook cut, just as the European Commission prepares to step up regulation of the agencies that have been criticised for their role in the Greek crisis.

On Tuesday (1 June), rating agency Standard and Poor's revised its outlook for Brussels "to negative from stable," citing the deplorable state of the region's finances.

"The revision reflects likely changes to the size and timing of region's ref...