Discussion on the Supervision over International Credit Rating Agencies

After the occurrence of the European debt crisis at the end of 2009,three major international rating agencies,the S P,Moody's and Fitch,have downgraded sovereign credit rating in Greece,Spain and Portugal,which deteriorated the crisis.The EU questioned and criticized the three major rating agencies.Considering the duty dereliction of the credit rating agencies in the US sub-prime debt crisis,how to strengthen the regulation and reform on credit rating agencies has become a focus again.