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EU Could Bar Ratings Firms From Issuing Reports On Members In Crisis

From efxnews.com

European Union Internal Market Commissioner Michel Barnier wants to bar ratings firms from publishing reports on members of the EU when they are facing crises, German daily Financial Times Deutschland reported Thursday, citing a draft document. Under the plan, the European Securities & Markets Authority would have the power to temporarily bar the publication of the ratings agencies' assessments of a country's solvency, the newspaper said. The rule would cover countries that are in financial aid talks with the EU's bailout fund or the IMF, for example, according to the newspaper. The ban would prevent a ratings firm ... (full story)

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