Financial Market Failures and Their Remedies

Carol Sirou

Chapter 7 in The Limits of Surveillance and Financial Market Failure, 2014, pp 93-96 from Palgrave Macmillan

Abstract: Abstract This chapter, prepared in my capacity as a representative of Standard & Poor’s, addresses two questions raised by Kumiharu Shigehara in Chapter 1. The two issues, detailed below, can be resolved in the context of the Banking Union project that is currently in the making in Europe. First, Why did capital markets give little to no attention to the warning by internal organizations or rating agencies such as Standard & Poor’s?

Keywords: Rating Agency; Banking System; Euro Area; Credit Risk; European Central Bank (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47147-5_7

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DOI: 10.1057/9781137471475_7

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