MEPs focus on debt crisis measures, credit rating agencies

With the EU economy suffering under a burden of high levels of public debt, the members of the Economics Committee are turning their attention to solutions including eurobonds and more active market calming policies by the European Central Bank and are also looking at the role of the credit rating agencies that recently downgraded the debt of nine euro zone countries.

A number of MEPs are staunch supporters of eurobonds, which would, in their opinion, create a deeper and more efficient European sovereign debt market, taking the heat off countries that are now forced to pay very high interest rates on their debt. A more active bond-buying policy by the ECB would also help, some say.

There will be a public hearing on the sovereign debt crisis on Monday at 1530 CET and Tuesday at 1730. Danish Economic Minister Ole Sohn will debate the issues with MEPs on Monday from 1700.

On Tuesday at 0900, MEPs will focus on the role of credit rating agencies with the focus on conflict of interests and concentration in the industry.