Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-08-Speech-3-308-000"
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"en.20110608.20.3-308-000"2
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"The main objective of the resolution adopted today is to remove the dependence on external credit ratings from the whole system, as far and as soon as is feasibly possible. The role of external ratings as hard triggers is particularly significant when downgrading from investment grade to sub investment grade. In a competitive and well-functioning market, the reputation of an agency is enough to ensure the quality of its ratings. However, since credit rating agencies currently operate in an oligopoly, they benefit from an intrinsically ‘guaranteed’ market."@en1
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