European Parliament backs Euro rating agency
The European Parliament backed German MEP Wolf Klinz’s proposals for a European Credit Rating Agency on Wednesday and asked the European Commission to conduct a viability study as part of its reform of rating agency regulation.
The EC published a consultation paper on rating agency regulation in December, which generated at lot of responses, including those of the UK and Swedish governments, mostly rejecting the idea of a European public credit rating agency.
A Standard & Poors spokesman said it welcomed free and fair competition, ...Already a subscriber? Login