In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘european rating agency’

Roland Berger: Close to launching a European rating agency

Posted by seumasach on April 29, 2012


26th April, 2012

FRANKFURT (Dow Jones)–Roland Berger Strategy Consultants is close to launching a European rating agency, the company said Thursday.

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Setback to India – and to BRICS

Posted by seumasach on April 28, 2012

He batted in particular as the leader of BRICS. But hardly had Mukherjee landed back in the Indian capital, news broke that Standard & Poor has lowered India’s sovereign credit outlook to ‘negative’ from ‘stable’. Within hours, bonds fell in Mumbai, stocks declined and the rupee slumped.

It is indeed no surprise that the empire seeks to punish those who challenge it, but the West’s game is far too transparent, far too bereft of finesse to impress anyone. S&P have no serious standing as they are entirely at the service of the Wall Street/City of London gang whose game is reduced to a series of entirely predictable moves which the whole world is learning to counter. Look to the establishment of new rating agencies, perhaps on the basis of Euro-Brics collaboration over the next year or two.



26th April, 2012

‘What goes up must come down’ is an elementary principle in physics ever since Isaac Newton wrote about the law of gravity. But the variant, ‘The feather in the wind will come to earth’, may in this case be more applicable. From various accounts, Finance Minister Pranab Mukherjee seemed a star performer at the meetings of the finance ministers of the World Bank, IMF and the G24 – and the BRICS, of course – in Washington. Things were looking really good.

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China takes on the big three ratings agencies

Posted by seumasach on January 25, 2012

With the recent downgrading of the credit ratings of nine euro zone nations by Standard and Poor’s – including the cherished triple-A rank for France – the big three ratings agencies have not been winning new friends.

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Blowback comes to Europe

Posted by seumasach on January 15, 2012

Cailean Bochanan

15th January, 2012

The multiple European downgrading announced by S&P can hardly be called unexpected and is only dramatic in a rather theatrical sense. The empire has taken on the persona of a “Dennis the Menace” character with an array of wild pranks: celebratory shrieking over the murder of an Arab leader, “taking out” Iranian scientists, NGO street theatre in Moscow, an extra- fraudulent set of monthly employment statistics. S&P’s hit on the Eurozone is well within the range of insanity of the above and is true to form. It is also particularly stupid. The Anglo-Americans may have been scarcely able to contain their glee as they pissed on their erstwhile European allies: but Europe has shown itself to be far from a corpse.

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Portugal victim of war on Euro

Posted by seumasach on January 15, 2012

The Portuguese government considers the decision of S&P to downgrade its debt two notches to be “unfounded”, without reflecting either the economic or political reality of Portugal’s counter-crisis measures. Specifically it fails to reflect the consensus within Portuguese society around these measures. A   study by MEP Diogo Feio calls for the end to the North American oligopoly of the rating agencies and, like Merkel, the end of legal obligation by investment institutions to take into account their ratings.

Portugal vítima da guerra ao euro

Correo da Manha

15th January, 2012

É “infundada” a decisão da Standard & Poor’s em baixar o rating nacional em dois níveis, para ‘BB’, uma posição já considerada lixo, diz o Governo português, em reacção à avaliação da agência de notação norte-americana.

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Merkel calls for European ratings agency

Posted by seumasach on July 18, 2011


18th July, 2011

German Chancellor Angela Merkel joined the choir of European leaders calling for the introduction of a European ratings agency and expressed her scepticism over Greek sovereign debt restructuring.

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