Andrea Vernata

The Constitution, rating activity and sovereignty in global legal space

  • Abstract

Informations and abstract

Keywords: Constitutionalism; Credit Rating Agencies; Budgetary Policy; EMU; Standards.

The Eurozone crisis has provided the EU with the occasion for experiencing the great impact credit rating agencies may have on States and the economy as a whole. Nevertheless, the ability of these agencies to influence governments and public policy seems to stem more from the effects that financial regulations attribute to ratings rather than the credibility or reliability of the agencies themselves. In this light, the essay analyses whether it is opportune to establish a European credit rating agency as a tool to reaffirm the values of modern constitutionalism.

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