Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-08-Speech-3-295-250"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-06-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20110608.20.3-295-250"2
lpv:hasSubsequent	lp_eu:2011-06-08-Speech-3-295-5002
lpv:speaker	lp:Diogo Feio2
lpv:spokenAs	substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Partido Popular (2009-07-14--2014-06-30)3 member; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; EPP (2009-07-14--2014-06-30)3 substitute; AFET (2009-07-16--2012-01-18)3 substitute; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"The role played by the credit rating agencies (CRAs) is undoubtedly important for the current market economy. These agencies started out as information middlemen, facilitating access to the market for debt issuers and investors, enabling reduced information costs and, therefore, greater liquidity and transparency. However, as is the case in many other areas of this sector, the crisis has demonstrated three key problems: lack of competition, over-reliance on external ratings in the regulatory framework and no liability for CRA ratings. There is an urgent need to review the role of these agencies for regulating the global financial market and find effective solutions for their lack of competition. It is also crucial to assess the conflicts of interest in this business model."@en1

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