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A rating agency for Europe-A good idea?

Bartels, Bernhard, Weder di Mauro, Beatrice, (2013), “A rating agency for Europe-A good idea?”, www.voxeu.org, 4 Ιουλίου.

US-based credit-rating agencies are regularly subject to condemnation for causing or amplifying financial crises – the Eurozone Crisis in particular. Should Europe try to set up a European agency to counter this? This column discusses evidence that shows that the largest German rating agency was more aggressive than the US Big Three both in terms of a lower level and a higher propensity to quickly downgrade Eurozone problem countries