S&P reassures EU states on costs of refugee crisis

One of the world’s leading credit rating agencies yesterday reassured EU governments that the costs of resettling refugees won’t undermine their credit worthiness.

Standard & Poor’s instead warned that failure to agree a common policy among European countries could worry investors that the EU still has “governance issues” and raise questions about the EU’s power and influence to meet future crises.

It comes as EU governments continue their war of words, blaming each other for closing their borders as they struggle to deal with the thousands of refugees and migrants from the Middle East and Africa.