The EU’s war against credit rating agencies is symptomatic of a new struggle between politics and the market, but it also lays bare growing tensions in the European project and globalisation as a whole

Cramme, Olaf (2011) The EU’s war against credit rating agencies is symptomatic of a new struggle between politics and the market, but it also lays bare growing tensions in the European project and globalisation as a whole [Online resource]

Copy

The collective rage directed at US Credit Rating Agencies is an important development in the eurozone crisis. Yet, as Olaf Cramme explains, this reaction mainly brings home the extent of the profound tensions between growing external constraints, national sovereignty and democratic legitimacy in the EU and beyond.