Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-01-15-Speech-2-478-000"
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"en.20130115.29.2-478-000"2
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"Mr President, I must admit that my curiosity was raised by this report. Contrary to its normal strategy of centralising and seizing control as much as possible, the EU is now proposing that banks and investment firms assess for themselves the credit risk of entities or instruments in which they invest, and is asking them not to rely on external ratings. The report even proposes to take ratings out of the Financial Regulation and eliminate risk-weighting of assets through external rating or internal models.
How this would contribute to making the evaluation of risk independent or avoid conflicts of interests, is really a mystery to me. Whether we like it or not, these agencies provide an independent view, and the fact that some would find that they have become too powerful is no basis for them being muscled out in such a way. It is as if the EU wants to remove any analytical road blocks that stand in its way. I wonder why. In response to Mrs Lulling, I would like to say yes, the UK should leave the EU."@en1
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