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FRANCE to lose its AAA credit rating!!


SOTONS EAST SIDE
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It's not that funny though. Whether you like Sarkozy or not, the UK has a lot of exposure to France and if their bond yields rise, and they can't afford to pay off their debt that screws us up as well. It's Italy I am more worried about though. I think France will be okay(unless Italy crashes, in which case we could all go down with it).

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It's not that funny though. Whether you like Sarkozy or not, the UK has a lot of exposure to France and if their bond yields rise, and they can't afford to pay off their debt that screws us up as well. It's Italy I am more worried about though. I think France will be okay(unless Italy crashes, in which case we could all go down with it).
What! Italy has been bankrupt for years, even before they joined the euro[sic]. Yet they were still allowed to join like Greece, Portugal ect!! The euro dream took presidency over financial sense, and now its a euro knightmare for these eurocrats folly!!! Edited by SOTONS EAST SIDE
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Aaaah the French/German love in knows no bounds. Now both calling for Britain and US to be downgraded too!! Yeah right how about Feck off and take your monopoly money with you!!

Hey its the Common "MARKET" not the Common country!!!

 

Not like the French to throw their toys out of their pram ;)

 

They really hate the fact that Anglo-Saxons have more influence on the world than their culture does, dont they ??

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While it's fun to have a cross-channel chuckle at our croissant-chomping friends, the lower end of the credit spectrum is interesting too. Portugal were downgraded to junk. Guessing that's not good.

 

Its more serious than that. Eventually its going to have an impact on the UK credit rating, since a lot of these countries are our major trading partners.

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What! Italy has been bankrupt for years, even before they joined the euro[sic]. Yet they were still allowed to join like Greece, Portugal ect!! The euro dream took presidency over financial sense, and now its a euro knightmare for these eurocrats folly!!!

 

Whether that is true or not, it still won't be funny if everyone becomes bankrupt.

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Moody's have decided to allow France to keep the triple A A A, 3 days after Standard's downgrade. This is a welcome relief for France, for Sarkozy for now.

 

http://www.bbc.co.uk/news/business-16573452

 

2 out of 3 ain't bad, Fitch left us on AAA as well.

 

Anyway Standard and Poors seems to have just one objective,obtain BCE guarantees for all Eurozone debt.

Edited by Window Cleaner
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Baldrick: "What I want to know sir, is before there was a Euro there were lots of different types of money that different people used. And now there's only one type of money that the foreign people use. And what I want to know is, how did we get from one state of affairs to the other state of affairs"

Blackadder: "Baldrick. Do you mean, how did the Euro start?"

Baldrick: "Yes sir"

Blackadder: "Well, you see Baldrick, back in the 1980's there were many different countries all running their own finances and using different types of money. On one side you had the major economies of France , Belgium , Holland and Germany , and on the other, the weaker nations of Spain , Greece , Ireland , Italy and Portugal . They got together and decided that it would be much easier for everyone if they could all use the same money, have one Central Bank, and belong to one large club where everyone would be happy. This meant that there could never be a situation whereby financial meltdown would lead to social unrest, wars and crises".

Baldrick: "But this is sort of a crisis, isn't it sir".

Blackadder: "That's right Baldrick. You see, there was only one slight flaw with the plan".

Baldrick: "What was that then sir?"

Blackadder: "It was ********".

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