European Central Bank President Mario Draghi said while investors had largely priced in the euro-area sovereign downgrades from Standard & Poor’s, there should be less reliance on their ratings. “It seems to a great extent markets have anticipated these ratings changes and priced them in,” Draghi said today at the European Parliament in Strasbourg. “We should learn to do without ratings, or at least we should learn to assess creditworthiness” with less reliance on the rating companies, he said. S&P stripped France and Austria of their top ratings on Jan. 13 and cut seven other euro countries in a move that left ... (full story)