Roche seeks Europe-wide probe into rating agencies

US criminal investigations into the role that ratings agencies played in the economic crisis were praised by Europe Minister Dick Roche, who said he personally would support similar steps being taken in Europe.

But he warned also that one of the greatest dangers to the country’s economy now was negative attitudes by people, and the talking down of the capacity for recovery.

Mr Roche was especially critical of Standard & Poor’s, who last week reduced the country’s credit rating, contributing to higher costs for borrowing.