Move to curb rating agencies prompts backlash

Article discusses the negotiations in the EU on the European Commission legislative proposal to tighten up the existing legislation on credit rating agencies. Article suggests that the original proposal has been significantly watered down since its introduction in November 2011 and this process would continue at an informal Ecofin council meeting in Copenhagen on 30-31 March 2012.

ESO: Background information: Rating agencies must improve transparency http://www.europeansources.info/record/rating-agencies-must-improve-transparency/

ESO: Background information: Commission wants better quality credit ratings http://www.europeansources.info/record/commission-wants-better-quality-credit-ratings/

European Commission: DG Internal Market and Services: Securities: Rating Agencies http://ec.europa.eu/internal_market/securities/agencies/index_en.htm

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