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Page last updated at 07:43 GMT, Thursday, 14 July 2011 08:43 UK

Should we rely on credit ratings?

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Greece's debt was further downgraded yesterday by one of the major credit agencies.

Chantal Hughes, spokesperson for the European commissioner responsible for internal markets and financial services, explains why she believes agencies have "too much influence".

And Martin Winn, spokesman for Standard & Poors sets out the argument for "transparent, independent and forward looking" credit ratings.


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