Oireachtas Joint and Select Committees
Wednesday, 18 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Marco Buti:
Rating agencies are his sector, actually. I will give the committee my opinion, however. The rating agencies failed miserably before the crisis. This is a quite well-established conclusion. One may even say that the overreaction by rating agencies during the crisis, when they downgraded sovereigns, may have contributed to the debt of the sovereign debt crisis.