RSS Feed
January 16th, 2013 
FAKE NEWS for the Zionist agenda Since Wednesday, ratings agencies such as Standard & Poor’s, Moody’s, and Fitch, known as the ‘big three’, will have to provide additional details on how and when they intend to release the data or otherwise face legal proceedings.
EU Internal Markets Commissioner Michel Barnier said the changes “will considerably improve the quality of ratings.”
The agencies “will have to be more transparent when rating sovereign states and will have to follow stricter rules which will make them more accountable for mistakes in case of negligence or intent,” Barnier said in a statement.
The new legislation, which the EP voted 579 for with 58 against, should take the edge off the US and UK-based ‘big three’ that dominate the market and allow others to provide credible data on the financial status of institutions, he added.
The move comes after complaints surfaced over the creditors releasing data at inappropriate times, which analysts speculate to be behind increased economic risks and causing the eurozone debt crisis.
Italian Socialist Member of EP Leonardo Domenici, said that some decisions made by the ‘big three’ “led to harmful speculation on the markets, exacerbating the eurozone debt crisis.”
GVN/SZH
Source Article from http://www.presstv.ir/detail/2013/01/16/283958/ep-tightens-belt-on-eus-rating-agencies/
Posted in 
