Loading ...The decisions made by the Summer European Council on setting up a European Systemic Risk Board and the European System of Financial Supervision to supervise the credit rating agencies as well is one of the decisions that are important to Romania, President Traian Basescu said at the end of the Brussels meeting on Friday.
‘The decision taken in the conclusions to set up two entities is of a major interest to us and to all the EU states too’, Basescu said, explaining that one of the entities is ‘The European Systemic Risk Board, that will have the mission to monitor the European financial-banking system and that will also have the extremely important mission to send risk alerts based on the analyses and, naturally, to make recommendations so as not to get into a difficult situation’, Basescu told a news conference.
He stressed that as a result of the establishment of the European Financial Supervision System, the credit rating agencies will have a supervisor ‘at last’.
‘Another structure that was backed and will become an institution is the European Financial Supervision System tasked with supervising the very national supervisors and the credit rating agencies too.
This may be something of a novelty, i.e. the credit rating agencies have a supervisor at last’, the Romanian president said.
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