Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-08-Speech-3-288-312"

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"I voted in favour of Mr Klinz’s report on credit rating agencies. Credit rating agencies are useful: they provide information about the quality of credit products, enabling debtors and investors to access global and domestic markets and ultimately help fix prices. However, the crisis has demonstrated the dangers created by the current system: the lack of competition and a lack of accountability and transparency of agencies in particular. This is an own-initiative report which calls on the European Commission to clearly identify the shortcomings of the current framework and to provide an impact study outlining the potential different alternatives for improving the system, including new legislation if necessary. I urge the Commission to respond to our request as soon as possible."@en1

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