Friday, July 08, 2011


Regardless of the validity, veracity, and viability of current ratings agencies, questioning their continued existance merely because you disagree with their conclusions sounds like something akin to local Chicago politics.

BERLIN, July 7 (Reuters) - Eurogroup chairman Jean-Claude Juncker said on Thursday he was in favour of having a European credit rating agency and that it was not right to downgrade countries like Portugal just as they were implementing reforms.
Juncker, joining the ranks of policymakers who have criticised rating agencies, said they would lose relevance if they continued to act like they have been.

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