In the letter, Martin Schulz states:
"In my view we cannot accept the behaviour of these rating agencies. The speculative and false messages which have been circulating in the press in recent days can threaten, and indeed even destroy, the European single market!
"It is remarkable that such warnings are always issued ahead of European summits and seem to be published in a calculated way. In my opinion this is not a coincidence but a clear attempt by the rating agencies to put even greater pressure on Europe in already difficult times.
"Against this background I call on you to take action against the monopolistic and anti-competitive behaviour of these rating agencies.
"I also request the European Securities and Markets Authority (ESMA), as the supervisory authority for all credit rating agencies registered in the EU, to investigate the latest ratings regarding EU Member States and their compliance with the current EU legal framework.
"Finally, it should be established if such actions imply a breach of EU economic law and if claims for damages can be applied."
Press release
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