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Moving the Markets Europe Looks to Break US Ratings Monopoly

Few doubt that US ratings agencies contributed greatly to the global financial crisis. Europe is now worried that the euro could also fall victim to credit downgrades -- and is exploring the possibility of creating its own ratings agency.
Von Beat Balzli
Ratings agencies have not been kind to European countries as they struggle with massive national debt.

Ratings agencies have not been kind to European countries as they struggle with massive national debt.

AFP
Translated from the German by Christopher Sultan