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EU about to brake the rating agencies!

It seems as if the EU had enough of all the wild west shoots from the US rating
agencies (Moody’s, Fitch, S&P). Since every new re-rating in the past year had
affected the european currency in a very negative effect, it seemd that the ra-
ting agencies took every news as a chance to re-rate european countries.

The european parlamant has now ratified the new rating concept which also provides that the rating agencies are limited to three ratings per year AND the rating has to be done at the end of a stock market day so that just in-time released ratings can no longer affect stock market in a tremendous way.

In Spring 2013 these rules shall be activated.

Should any of the three rating agencies severely fail to obey these rules, a high penalty will be the consequence of this.

Maybe one factors of the ongoing economy war will be vastly reduced this way!

January 16, 2013 Netspark - 1591 posts - Member since: May 9th, 2011 No Comments »

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