Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-01-16-Speech-3-190-510"
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"en.20130116.28.3-190-510"2
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"I voted in favour of this report, as credit rating agencies play a central role in the world finance market and yet there are many concerns about various conflicts of interest. The new rules proposed are a step forward. In future these bodies will only be able to issue sovereign debt ratings at specific times and will be liable for damages in the event of ill-founded ratings. Unfavourable credit ratings have led to soaring public debt in many countries, which has caused financial hardship for a great number of people. The new rules will go some way to improving transparency and will make credit ratings easier to understand and provide greater stability, which is important for businesses and traders in Wales."@en1
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