UK credit rating under threat
Discussion
http://business.timesonline.co.uk/tol/business/eco...
"it is the announcement from S&P that will send a ripple of anxiety through financial markets. It said it would resort to a downgrade of Britain’s credit rating if it “concluded that the next government's fiscal consolidation plans are unlikely to put the UK debt burden on a secure downward trajectory over the medium term”.
This quote worries me immensely.
Why do they need to wait for the next Chancellor; surely they should be saying "If the current gov't does not reign in its spending, the UK is f
ked"?
Makes me wonder about the impartiality of these credit agencies?
After all, they are as implicated in the "credit crunch" as the banks imho.
"it is the announcement from S&P that will send a ripple of anxiety through financial markets. It said it would resort to a downgrade of Britain’s credit rating if it “concluded that the next government's fiscal consolidation plans are unlikely to put the UK debt burden on a secure downward trajectory over the medium term”.
This quote worries me immensely.
Why do they need to wait for the next Chancellor; surely they should be saying "If the current gov't does not reign in its spending, the UK is f
ked"?Makes me wonder about the impartiality of these credit agencies?
After all, they are as implicated in the "credit crunch" as the banks imho.
Martial Arts Man said:
http://business.timesonline.co.uk/tol/business/eco...
"it is the announcement from S&P that will send a ripple of anxiety through financial markets. It said it would resort to a downgrade of Britain’s credit rating if it “concluded that the next government's fiscal consolidation plans are unlikely to put the UK debt burden on a secure downward trajectory over the medium term”.
This quote worries me immensely.
Why do they need to wait for the next Chancellor; surely they should be saying "If the current gov't does not reign in its spending, the UK is fked"?
Makes me wonder about the impartiality of these credit agencies?
After all, they are as implicated in the "credit crunch" as the banks imho.
How dare you impugn the credit ref agencies. Just because they were giving AAA ratings to bonds which a chimpanzee could see were a crock of s"it is the announcement from S&P that will send a ripple of anxiety through financial markets. It said it would resort to a downgrade of Britain’s credit rating if it “concluded that the next government's fiscal consolidation plans are unlikely to put the UK debt burden on a secure downward trajectory over the medium term”.
This quote worries me immensely.
Why do they need to wait for the next Chancellor; surely they should be saying "If the current gov't does not reign in its spending, the UK is f
ked"?Makes me wonder about the impartiality of these credit agencies?
After all, they are as implicated in the "credit crunch" as the banks imho.
te, doesn't mean they are a bunch of dishonest, incompetent nincompoops.It’s somewhat perplexing that the pound has risen so far recently. What do the markets know that has missed the “eagle” eye of S&P.
DSM2 said:
The Excession said:
Reports on Irish radio hint that UK debt repayment is heading for 100% of GDP!
Can that be real?
That's just the Irish trying to deflect attention from their own, impossibly bad, situation...............Can that be real?
ETA: Actually, the media over here are all over the child abuse cases from the Christian Brothers and Sisters' of Mercy et al.
Shocking stuff. I mean it, it really is shocking stuff. There are people phoning into radio stations telling their stories of how they were beaten in these institutions. Then you get some doddery old granny denier claiming 'I was there and there was nothing going on'.
It's a fvcking mess and likely to get little attention in the UK.
Edited by The Excession on Thursday 21st May 18:01
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