Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-08-Speech-3-313-000"
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"en.20110608.20.3-313-000"2
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"The financial and economic crisis has thrown a critical light on credit rating agencies and, in particular, their active role in the continuing crisis, the core problems identified being a lack of competition, excessive dependency on external credit ratings and a lack of answerability in the sector. For this reason, the rapporteur recommends examining the idea of setting up a genuinely independent European credit rating agency, stating that the new European Credit Rating Foundation must be self-sustaining. Because of the far-reaching consequences of ratings, intensive interaction with this sector is unavoidable. This is why I have voted in favour of the report."@en1
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