Klaas Knot, president of De Nederlandsche Bank (DNB), warned that the Netherlands and Europe are too dependent on foreign companies—especially American firms—for key financial and digital services. He also pushed back against criticism from U.S. officials after Moody's, a major credit rating agency, lowered the country's credit rating. At a recent press conference, Knot responded to comments from U.S. Treasury official Scott Bessent, who said the Moody's downgrade does not reflect current economic conditions. Knot defended the agency, saying credit rating firms are "forward-looking." He noted that the Netherlands lost its triple-A rating more than 10 years ago, which also led to political backlash. "It is always 'don't shoot the messenger,' I think," he said. Moody's, which evaluates how likely countries are to repay their debts, lowered the U.S. credit rating from Aaa to Aa1. That means Moody's sees the U.S. as slightly riskier to lend money to than before.