INCRA Goes To Brussels

05.06.2012 | Wirtschaft in Europa > Büro Brüssel der Bertelsmann Stiftung
Seit der öffentlichen Vorstellung ihres Vorschlags für eine „international non-profit rating agency (INCRA) auf der jährlichen Finanzkonferenz der Bertelsmann Foundation North America sucht die Stiftung gezielt das Gespräch mit politischen Entscheidern, um das INCRA-Konzept auf deren Agenda zu setzen. In diesem Rahmen besuchte Annette Heuser, die Leiterin unserer US-Stiftung, Anfang Juni das Büros Brüssel, um eine Reihe von Treffen mit Vertretern der EU-Institutionen durchzuführen.

One result of her discussions was the realization of a change in tone in Brussels: Policymakers are no longer wedded to their initial idea, following the downgrading of some European sovereign debt, of creating a European credit rating agency (CRA). An increasing number of European decision-makers has concluded that a purely European CRA is no solution to a perceived loss of these agencies’ credibility. Rather a global organization is needed, which explains why the Foundation’s INCRA proposal piqued much interest at a June 4 gathering co-hosted by the Bertelsmann Foundation’s Brussels office and the European Policy Centre.
“The Europeans have a unique opportunity to build an international coalition, possibly within the framework of the G20, to establish such a global CRA,” said Heuser, who oversaw the proposal’s development. “INCRA would allow greater competition in a strongly oligopolistic market and increase the quality and transparency of sovereign ratings.”
The Bertelsmann Foundation plans further meetings with political and business leaders to discuss INCRA and determine if the will exists to make the organization a reality.

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