Due to an ongoing health crisis in the family, blogging will be 'on and off' as time and circumstances permit for the foreseeable future. I also beg your indulgence if I am slow in responding to emails. New posts will appear below this notice.

Thursday, October 20, 2011

EU Weighs Credit-Ratings Bans for Nations Getting Bailouts

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.

“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.
Read the rest here.

1 comment:

The Archer of the Forest said...

And they say the EU is transparent...