CLEAN: ECB head criticises oligopoly of rating agencies

The Governing Council of the ECB decided to increase key interest rates by 25 basis points, marking a shift from historically low levels. The decision faced opposition, particularly in Portugal, where thresholds were waived. In Greece, the debate centered on PSI and the rejection of selective default. The ECB emphasized its advisory role, urging governments not to deviate from global agreements and to maintain price stability.

What significant decision did the ECB Governing Council make regarding interest rates?

• They decided to decrease the rates by 25 basis points.

• They decided to abolish the interest rates.

• They decided to increase the rates by 25 basis points.

• They decided to keep the rates unchanged.

What action did the ECB take concerning Portugal's economic policy?

• They waived the threshold.

• They imposed stricter thresholds.

• They removed all thresholds.

• They increased the threshold.

What was the ECB's stance on Greece's selective default?

• They supported selective default.

• They encouraged selective default.

• They were neutral on selective default.

• They opposed selective default.

What is the ECB's position on substituting the responsibilities of various authorities?

• They are willing to substitute responsibilities.

• They do not want to substitute responsibilities.

• They have already substituted responsibilities.

• They are undecided about substituting responsibilities.

What advice does the ECB give to governments regarding global decrees?

• To modify the global decree.

• To depart from the global decree.

• To ignore the global decree.

• To adhere to the global decree.