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Michel Barnier has asked EU finance ministers to consider curbing ratings agencies' powers (Photo: European Commission)

EU moves to rein in ratings agencies

by Honor Mahony, Brussels,

The EU commission on Monday (11 July) for the first time indicated plans to regulate ratings agencies after several run-ins over agency decisions about the credit reliability of ailing eurozone members.

Speaking in Paris, internal market commissioner Michel Barnier said the agencies occupied a place that is "far too important in Europe" and mooted a ban on ratings for countries covered by international rescue packages.

"One can't just not take into account the fact that these Memb...

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Michel Barnier has asked EU finance ministers to consider curbing ratings agencies' powers (Photo: European Commission)

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