WASHINGTON (MarketWatch) -- European Central Bank President Mario Draghi told lawmakers in the European Parliament that France losing its Triple-A debt rating shouldn't be a "terrible thing" but that if France were downgraded, other nations likely would be as well. "I don't know if France will lose its Triple-A. I hope not," he said in response to a question of whether the nation will be downgraded. He said ratings from the credit agencies are just one factor the ECB uses to assess collateral. Draghi, who again poured cold water on the idea of stepping up the pace of bond purchases, also said the U.S. needs to take structural reforms and said the U.S. labor market may be "too flexible."

WASHINGTON (MarketWatch)
European Central Bank President Mario Draghi told lawmakers in the European Parliament that France losing its Triple-A debt rating shouldn't be a "terrible thing" but that if France were downgraded, other nations likely would be as well.
"I don't know if France will lose its Triple-A.
I hope not," he said in response to a question of whether the nation will be downgraded.
He said ratings from the credit agencies are just one factor the ECB uses to assess collateral.
Draghi, who again poured cold water on the idea of stepping up the pace of bond purchases, also said the U.S. needs to take structural reforms and said the U.S. labor market may be "too flexible."