Commission spokesman Olivier Bailly made the statement at a regular press briefing in Brussels on Monday (16 January), two days after US-based agency Standard & Poor's (S&P) downgraded nine EU countries, including France.
"We have more information than the ratings agencies and we think there are elements missing in their analysis ... We have monthly updates from member states. We share this information on a confidential basis. The ratings agencies do not have this information," he said.
Great bluffing, I'm sure the markets are listening
But wait we have a plan, a digital one....
Bailly said EU countries do not have enough money to launch fiscal stimulus programmes and that growth will have to come from "structural reforms" - like creating a new EU digital market - a few years down the line.