Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-284-250"
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"en.20111201.35.4-284-250"2
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"I am partly in favour of the report because, although the European Central Bank (ECB) acted correctly by purchasing government bonds of some Member States and supporting the role of the euro as an international currency, it failed to stand up sufficiently to the excessive power of the rating agencies, for example, by setting up a European credit rating foundation. I believe that in conjunction with the Commission, any reference on official EU documents to ratings assigned by rating agencies should be removed. I am also concerned about the creation of a European Ministry of Finance which might be able to intervene with advice and support for countries with budget problems, but could become a costly body that would limit the sovereignty of Member States."@en1
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