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economy and finance

Credit Rating Agencies

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State of play

For the moment a small group of three private agencies (all based in the US) control 95% of the rating market. The rules behind the functioning of these agencies are purposely designed to be unclear and there is a complete lack of supervision by the authorities.

The inherently-conflicted and inconsistent role of Credit Rating Agencies (CRAs) in assessing credit risk proved to be destructive both during the financial crisis and in the European debt crisis. Although they are private and profit-led companies, their ratings constitute a major element of public regulation.

Taming CRAs

The PES has therefore adopted a plan to tame rating agencies by offering sound regulatory measures and an institutional alternative to private rating. The PES calls for increased transparency of CRAs’ activities and demands antitrust measures to be undertaken against the monopolistic market.

Towards a European Independent CRA

Furthermore, the PES asks for an establishment of a European Independent Credit Rating Agency to fight contradictions of private rating and to return regulatory power back to public institutions.

PES draft policy paper on Fixing Credit Rating


What we are fighting for
Read the PES Common Manifesto for the European Elections 2014

Our Campaigns


In some countries as many as one young person out of two cannot find a job. We are calling for a European Youth Guarantee as a way to tackle youth unemployment.



Campaign info

5.7 million young people are currently unemployed in Europe and an additional 1.5 million are forced into precarious jobs. In some countries as many as one young person out of two cannot find a job.

The campaign “Your future is my future – a European Youth Guarantee now” is calling for a European Youth Guarantee as a way to tackle youth unemployment.

Campaign Material

  • Toolkit (EN)
  • PES guide on youth guarantee (EN)
  • PES appeal for a European Youth Guarantee (EN), (FR)
  • PES report: Combating Youth Unemployment (EN), (FR), (ES)
  • Factsheet on Youth Unemployment among Women (EN)
  • Campaign flyer (EN), (FR), (DE), (ES), (NL), (PT), (HU)

Campaign Video

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