EU questions credit-rating agencies
Posted: Wednesday 13 Jul 2011
The Guardian also reports that Commissioner Michel Barnier, pictured and overseeing the EU’s single market, will “announce "stiff measures" in November aimed at taming the power of the agencies”.
Claude Moraes MEP wrote last week about the role of credit-rating agencies in the ongoing Eurozone crisis, saying the timing and context of dramatic downgrades “might have a disproportionate and destructive effect on an economy which has the potential to get back to positive growth”
Claude adds, on Greece which is also under pressure, that the credit –rating agencies “have the power of economic life and death over a small Mediterranean country. This can't be entirely right and requires careful thought”.
Posted by: Admin on Wednesday 13 Jul 2011
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