Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-164-000"
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"en.20110307.21.1-164-000"2
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"Mr President, Commissioner, a few hours ago, Moody’s credit rating agency downgraded the Greek economy yet again. I belong to the opposition party in Greece and I have to say that we are highly critical of the government’s economic policy. However, this decision by Moody’s is absolutely unjustified. It comes just one day before the auction of six-monthly treasury bills, which is crucial to Greece, and a few days before the crucial meetings of the European Council on 11 and 25 March, at which serious decisions will be taken.
It is not only Greece which is suffering from these arbitrary ratings by credit rating agencies. These credit rating agencies need to be regulated. While I have the floor, I should like to say a couple of words about the March Councils: the month of March is crucial to the euro area and to the European Union as a whole. A failure will cause the Union a serious problem. The markets will make mincemeat out of failure and we need to forestall it; there is no time to delay."@en1
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