Moody's downgrade of Portugal and the subsequent market carnage is stirring more talk in Europe...

|By:, SA News Editor

Moody's downgrade of Portugal and the subsequent market carnage is stirring more talk in Europe of ditching the 3 ratings agencies and creating its own. The downgrade is a technical matter, more to do with levels of rates and spreads, but it seems politicians can't help trying to change the rules mid-game when things aren't going well.