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We take note of the announced decision by Standard and Poor's on their rating action concerning a group of euro area Member States, following the CreditWatch that was announced on 5 December. We reemphasize that euro area Heads of State or Government have taken far-reaching measures, which, combined with ECB decisions, have resulted recently in a substantial decrease of tensions on the sovereign bonds and interbank markets. Euro area Heads of State or Government on 9 December took bold and ambitious decisions to move towards a stronger economic union through a new fiscal compact, strengthened economic coordination and the acceleration of structural reforms. To that effect, a new treaty will be agreed at the European Council meeting at the end of the month before being signed and sent to...
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