Institute for Research in Economic and Fiscal issues

IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


IREF - Institute for Research in Economic and Fiscal issues
Fiscal competition and economic freedom
https://en.irefeurope.org/450

The European Commission is promoting centralized supervision of credit rating agencies

The Commission’s proposal, which amends Regulation 1060/2009, will now pass to the EU Council of Ministers and the European Parliament for consideration. If adopted, the new rules would be expected to come into force during 2011. The Commission has already compelled CRAs that would like their credit ratings to be used in the EU to apply for registration.

Brussels is pretending that such a regulation will bring more competition between CRAs and improve their performance. As far as we know, competition is defined as the absence of market barriers. Therefore, the request to have official authorization to enter the market is definitely not a step forward competition. Neither is the pretention to make all agencies have access to the same information and to control their methodology, internal models and key rating assumptions.

Share this article :

Related contents ...

The Need for Devolution to Address the UK's Transport Sector Crisis

Biofueled Unintended Consequences


Gig Economy Regulations Will Hurt Consumers

Unconditional Basic Income: Experimental Findings so far



Any message or comments?

Show Form

 css js

CLOSE

Monthly newsletter
Receive our publications for free

By continuing browsing our website, you agree with our cookies policy