Thinking global, living local: Voices in a globalized world

A Blueprint for “INCRA” – An International Non-Profit Credit Rating Agency

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Our colleagues in Washington have done really great work when introducing this concept of an internationale non-profit agency. It is time for a change. We need more transparency about rating systems because their rating is essential for countries and the people living there!

Bertelsmann Foundation releases report on creating an organization for sovereign-debt ratings with more transparent and comprehensive criteria

WASHINGTON, DC (April 17, 2012) – In light of the intense criticism leveled against credit rating agencies for their perceived failure to analyze adequately sovereign creditworthiness, the Bertelsmann Foundation has developed a blueprint for an international non-profit credit rating agency (INCRA), whose rating criteria are designed to increase credibility and international acceptance.

“Faulty sovereign credit ratings contributed to the most recent financial crisis that threatened a global cataclysm,” said Bertelsmann Foundation President and CEO Gunter Thielen. “We need an additional, independent institution for sovereign-risk assessment, and we need to raise the quality of sovereign ratings.” The INCRA proposal is the Foundation’s contribution to providing a credible, practical and internationally inclusive method for increasing confidence in the financial sector and to preventing another crisis.

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Ole Wintermann Twitter: @olewinOle

Hi all – my name is Ole, and I’m the head of www.futurechallenges.org. In my opinion, the Internet is going to play an essential role in coping with global future challenges. Currently, I see economic globalization and global governance as the two most central issues. These trends, and how they interact with others like demographic change and security, make the lives of people around the world complex and insecure, and make it tougher for political and economic decision-makers to make good long-term decisions. We need new rules and methods for decision-making. Dear politicians: please consider all of us when you make important choices. It’s our world, not yours. Please follow me also on my personal blog www.globaler-wandel.eu