Austria’s Nowotny: power of rating agencies unacceptable
Ewald Nowotny, the governor of the National Bank of Austria, on Tuesday attacked the power of the main rating agencies in determining nations' economic fates.
Reuters, a news agency, quoted Nowotny, a member of the governing council at the European Central Bank (ECB), as saying in a panel discussion on Tuesday evening: "The fate of Greece, and if you are going to be more dramatic, the fate of Europe, depends on the judgement of one rating agency. That is an unacceptable situation."
Greece's long
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