France’s man in the European Commission has been stymied in his efforts to clamp down on the power of credit ratings agencies, with the core of his proposals sent back for further assessment under pressure from his colleagues.
The proposals of internal market commissioner Michel Barnier to temporarily suspend the credit rating of troubled states at times of high market volatility have been shelved.
The plans included a 'blackout' in the rating of troubled states in exceptional cir...
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