Helmut Siekmann criticizes the influence of rating agencies ("Handelsblatt")

With the example of Portugal, the financial daily "Handelsblatt" describes how the credit rating can depend on the judgement of a single rating agency. Helmut Siekmann warns of the consequences.

According to Siekmann, it is problematic if government actions are based on the judgement of private profit-oriented companies without legitimacy because this entails concrete consequences like the capital requirements for banks.

Handelsblatt: "Die Geister, die sie riefen"