EU explores rating agency shake-up

The paper, written by the Greek MEP Giorgos Katiforis, said that the EU should mediate closely with the US Securities and Exchange Commission to investigate the role of the rating agencies. Katiforis argues that the influence of the rating agencies on the credit markets is not always positive, and that the reaction of the rating agencies can even make a bad situation worse. While in theory a rating agency’s decision does not imply investment advice, “its decision about the original grade, th