Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-06-Speech-1-207-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-06-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:Credit rating agencies (short presentation)2
dcterms:Language	"ro"^^xsd:language2
lpv:document identification number	"en.20110606.21.1-207-000"2
lpv:hasSubsequent	lp_eu:2011-06-06-Speech-1-209-0002
lpv:speaker	lp:George Sabin Cutaș2
lpv:spokenAs	member; Delegation for relations with the Korean Peninsula (2009-09-16--2014-06-30)3 substitute; Delegation to the Cariforum — EU Parliamentary Committee (2010-09-07--2014-06-30)3 substitute; INTA (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Iran (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; S&D (2009-07-14--2014-06-30)3 unknown; Partidul Social Democrat + Partidul Conservator (2009-07-14--2014-02-25)3
lpv:translated text	"Prior to the Lehman Brothers investment bank going bankrupt, it was given the highest rating by the main credit rating agencies. They also thought that Iceland’s three biggest commercial banks were sound a few days before they collapsed. In addition, the downgrading of Greece’s rating has not taken into account the launch of its economic recovery programme. The economic and financial crisis has highlighted credit rating agencies’ oligopolistic structure, as well as their lack of competition, transparency and accountability. In a world dominated by three such institutions, greater diversity is needed, along with a new way of working. I therefore support the notion of creating a public European credit rating agency as an alternative to the private institutions of this kind. It would become compulsory to obtain a rating from the European agency, which would supplement the ratings offered by the traditional agencies, thereby boosting competition for the fairest rating."@en1

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