Oct. 20 (Bloomberg) -- The European Union may ban credit- ratings companies from making assessments of nations receiving European or international bailouts as part of plans for tougher regulation of the industry.Read the rest here.
“We are actively considering suspending or banning ratings” in cases where nations are making “full efforts” to implement assistance programs, Michel Barnier, the EU's financial services commissioner, told reporters in Brussels today. The measure may be included in a draft law that Barnier will present in November.
The EU may also force the companies to disclose the internal analyses they use when they decide to cut a government's rating, according to Barnier, who said that he wanted to ensure “there is a clear method” behind such downgrades.
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1 comment:
And they say the EU is transparent...
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