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 advice is being given to governments on PS I?

What is the importance of price stability according to the speaker?