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This final acknowledgement follows weeks of growing pessimism and represents a significant downgrading of the summit's original goal.
His presidency has introduced a distinctly negative tone toward Russia, amplified by a contentious espionage dispute and policy debates that seem headed toward a significant downgrading of relations.
In a significant downgrading of expectations, the European Commission said gross domestic product would shrink by 0.3 percent for the 27 members of the Union as a whole and by 0.4 percent for the 17 countries in the euro area.
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The figures represent a significant downgrade of expectations.
"But whilst we welcome the decision to keep the A&E open, Jeremy Hunt's failure to prioritise turning the hospital around in recent years has led to the loss of maternity and paediatric services at Stafford, representing a significant downgrade of the hospital".
George Osborne has placed a tax on sugary drinks at the centre of his budget, as he sought to mask a significant downgrade to Britain's economic potential with a flurry of initiatives and giveaways to small businesses, motorists and savers.
NAB said the decision was taken after a "significant downgrade in the growth prospects of the UK economy".
Compared to traditional watches, which smartwatches are attempting to replace, the chunky profiles and lack of premium fit and finish of last years' models made them a significant downgrade in personal style.
In December of 2005 it gave American International Group a significant downgrade.
"We have had a significant number of downgrades tied to the ability of lower-rated companies to get access to capital," said Mr. Lonski of Moody's.
Last month, the home office admitted that a significant amount of serious violent crime had been downgraded in police reports for longer than anyone knows.
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