Credit rating agencies too powerful?
Victor, from Fontainebleau, France: "How did credit rating agencies manage to acquire such power over the European Union economy?"
André Sapir, Professor of Economics at the Free University of Brussels: "The simple answer to that question is that gradually, where governments displayed weaknesses in the euro zone crisis, the credit rating agencies took a bigger and bigger role. That might seem paradoxical because at the start of the crisis the agencies were criticised a lot, and rightly so, to some extent.
Victor, from Fontainebleau, France: "How did credit rating agencies manage to acquire such power over the European Union economy?"
André Sapir, Professor of Economics at the Free University of Brussels: "The simple answer to that question is that gradually, where governments displayed weaknesses in the euro zone crisis, the credit rating agencies took a bigger and bigger role. That might seem paradoxical because at the start of the crisis the agencies were criticised a lot, and rightly so, to some extent.
1 comment:
Geithner Says Europe’s Leaders Committed to Avoiding Lehman-Style Collapse
.
George Soros, the billionaire financier, says he thinks the euro and the European Union itself are at risk of breaking up if Germany refuses to play its traditional role and make concessions, Reuters reported, citing an interview conducted with Italian newspaper.
But Soros is the man who broke the Bank of England, George Soros, ‘at centre of hedge funds plot to cash in on fall of the euro’
He is a speculator or vulture that profits from other peoples (countries misfortunes) Who loves the ratings agencies that play his game and downgrade countries debt ratings
Post a Comment