Financial Times (July 10)
2011/ 07/ 11 by jd in Global News
Ratings agencies have come under considerable criticism since the Lehman crisis. Most recently, European leaders have heaped scorn on them after Moody’s downgraded Portugal to junk and S&P evaluated a proposal for a Greek debt rollover as a selective default. This time, the ratings agencies are addressing truths that are difficult to stomach. “We have to thank the rating agencies for giving the eurozone’s policymakers a clearer vision of which strategies are feasible, and which are not. It is now time to get serious.”
Tags: Greece, Lehman, Moody's, Portugal, Ratings agencies, S&P
