Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-06-Speech-1-200-000"
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"en.20110606.21.1-200-000"2
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"Mr President, the credit rating industry has numerous shortcomings, the most important of which are the lack of competition and transparency, as well as the oligopolistic structures. Competition would be enhanced by creating a regulatory environment which will promote market entry. This would carry out an in-depth analysis of the current obstacles. I should emphasis how important it is to monitor the progress of the Basel III system and the process relating to Chapter 4 of the Capital Requirements Directive. There is a need to increase accountability and the powers for monitoring the internal models and imposing preventive measures. All rating agencies must abide by the highest standards relating to the publication of information, transparency and management of conflicts of interest.
At the moment, Romania’s rating has a stable outlook. This could improve if the pace of structural reforms and the stability of the financial sector are maintained."@en1
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