Afro FM 105.3: European rating agency could launch in 2012: report

European rating agency could launch in 2012: report
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Henok  on 22/01/2012 15:05:00
 
According to reuters The founder of consultancy Roland Berger said he hoped a
new private, non-profit organization, in the form of a foundation, could be
ready in "the first half or the first nine months of the year.    Berger, who
has been lobbying European governments and companies to gather support and
financing for a new agency, hopes to have raised the 300 million euros of
capital needed from European investors by that time,  Berger said The proposed
model is of an agency where the service is paid by the clients, who have an
interest in having reliable and objective results.Roland Berger partner Markus
Krall, who is largely tasked with setting up the agency, told Germany's Euro am
Sonntag weekly that it would differentiate itself from competitors by accepting
liability for its analysis.This would mean customers could potentially claim
damages from the agency, which Krall said provides a "strong incentive" to
provide accurate analysis. (Reuters)