tag:blogger.com,1999:blog-6168976220844710754.post5498933481750090657..comments2011-12-07T07:53:06.790+01:00Magnus Lindnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6168976220844710754.post-19131755608872734232011-12-07T07:53:06.790+01:002011-12-07T07:53:06.790+01:00Dear Vincent<br />Thanks for your very interesting reflections. <br />Kind regards, MagnusMagnus Lindhttp://www.blogger.com/profile/15663921546398272726noreply@blogger.comtag:blogger.com,1999:blog-6168976220844710754.post-83013644586997754242011-12-07T06:17:14.827+01:002011-12-07T06:17:14.827+01:00It is true notation agencies often have good and rational analysis on the paper.<br />But maybe we should ask ourselves what is their role.<br />When Europeans try to progress towards a debt crisis solution like this Monday, is it normal that S&amp;P immediately light new fires threatening to downgrade 6 new European countries ? And this is not the first time such announces are made before a just after a European summit.<br />Do we need pyromaniac actions or firemen ?<br />Many other questions surge :<br />- who is behind these notation agencies ?<br />- do we really need these good or bad points ?<br />- are they really the voice of the Market ?<br />- information and economy “war” is launched for years on a geopolitical scale ; why Europeans are so bad at this game ?<br />- are European economic interests well promoted by our Leaders ? <br />- etc…<br /><br />You say “it’s time for a radical re-think”.<br />Don’t we need radically new behaviors and actors ?<br />- If banks do not lend any more, yes a “corporates funding institution” is a good idea.<br />- If we are not happy with the marks given by notation agencies, shouldn’t we change of teachers and masters ? We must remind that just before the crisis of 2007 notations were very good for subprime packages. We know what followed…<br />Let us open the eyes.<br />Europe is economically strong and has more advantages than weaknesses, and a good ‘track-record’ proven throughout history. But we are stuck with old paradigms. Collectively, politicians and economic &amp; business actors should start thinking differently. It starts with individual self-questionning.<br />It’s time for a radical rethink…Vincent Mnoreply@blogger.com