Jess M the latter point in your post reads:-
"George Osborne has been inflicting major pain on poor people for the last few years, partly in the cause of retaining out AAA rating. That's out the window now for the foreseeable future. And why does that matter? Well all major capital investments will now be on hold as they rely on the government being credit worthy enough to borrow money on the international market. We are now a dodgy credit risk. And while you might not care about major capital projects they do create much needed employment - sometimes in areas where this is badly needed.
This is the sort of thing that all those so called "scare-mongers" and "experts" were predicting and they were right."
Whilst I ' do not argue your point ' re the UK now being downgraded it is worth noting we are now AA negative. Here is another list, which I appreciate ' can change on the spin of a coin ' but it is interesting when discussing the credit agency ratings.
Austria AA 1 negative Moody's
Belgium AA negative Fitch
Bosnia B stable S&p
China AA - negative S&p
Croatia AAnegative S&p
Cyprus BB- positive S&P
Czech Republic AA- stable S&S&P
European Union AAstable
Finland AA negative S&P
France AA negative S&p
Greece B- stable S&P
Hungary BB+stable S&P
India BBB-stable S&P
Ireland A stable Fitch
Italy BBB-stable S&p
Latvia A-stable S&P
Malta BBB+stable S&P
New Zealand AAstable S&P
Poland BBB+negative S&P
Portugal BB+stable S&P
Romania BBB-stable S&P
Russia BB+negative S&P
Spain BBB+stable S&P
UK AAnegative S&P
USA AA+stable
Obviously other countries in the EU at present hold on to AAA status such as Switzerland, Germany, Sweden. The UK now sits in the High Grade section no longer Prime.
Gransnet forums
News & politics
Join the conversation
Registering is free, easy, and means you can join the discussion, watch threads and lots more.
Register now »Already registered? Log in with:
Gransnet »



