Trichet joins Scope in Europe push

摘要

Former European Central Bank president Jean-Claude Trichet has joined a new foundation set up by SCOPE RATINGS to preserve what it calls its European identity, which is used to differentiate itself from big North American rivals Moody's, S&P, Fitch and DBRS. Trichet has joined the honorary board of the Scope Foundation. So has Horst Koehler, former president of the Federal Republic of Germany and former managing director of the International Monetary Fund. Scope said the foundation will prevent the firm being bought by non-European agencies. "Europe more than ever needs a strong and independent European rating agency," Trichet said. "The Scope Foundation is making an important contribution to ensuring that the company's European identity endures." A board of trustees for the foundation, which was set up in May, is chaired by former Bayerische Landesbank chairman Gerd Haeusler. "This is about preserving diversity of opinion and presenting something that's distinct from the US-centric approach of the US rating agencies," Guillaume Jolivet, managing director at Scope, told IFR.