7 Amendments of Anni PODIMATA related to 2010/2302(INI)
Amendment 5 #
Motion for a resolution
Recital Β
Recital Β
B. whereas CRAs arethe role of CRAs is to act as information intermediaries, reducing information asymmetries in the capital markets and facilitating global market access, reducing information costs and widening the potential pool of borrowers, thus providing liquidity to markets and helping find prices,
Amendment 14 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas CRAs were instrumental in the development of the euro zone debt crisis through their repeated downgrading of national bonds and unfavourable assessments of euro zone economies, disregarding favourable EU, ECT and IMF assessments of progress by national financial reform and restructuring programmes or the major steps taken at European level to strengthen economic governance and provide a permanent framework for financial stability; whereas these unfavourable assessments had major implications for the European banking system and EU bond market,
Amendment 23 #
Motion for a resolution
Recital F
Recital F
F. whereas the industry’s key problem is lack of competition, accountability and transparency and the regulatory system’s key problem is dependency on external credit ratings,
Amendment 34 #
Motion for a resolution
Recital I
Recital I
I. whereas the recent developments in the euro crisis have highlighted the significant role of sovereign debt ratings, as well as major shortcomings concerning the rules governing the regulation and oversight of CRA activities,
Amendment 143 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Stresses that the markets appear to attach greater importance to euro zone public debt assessment by CRAs than to EU, ECT and IMF assessments; considers it necessary to restore the balance immediately and return to assessments on the basis of reliable updated and fully substantiated information;
Amendment 144 #
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Takes the view that a decisive step in this direction could be the introduction of an independent European credit rating body;
Amendment 153 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Stresses the urgent need for CRA assessments to take full account of updated information regarding national budget implementation and the effectiveness of financial adjustment and restructuring measures, so as to prevent national and European bond markets being seriously undermined by inaccurate assessments;