krusty Posted January 13, 2012 Share Posted January 13, 2012 The BBC has just confirmed it , After rumors all day.Here are some earlier comments before it was confirmed.http://uk.news.yahoo.com/euro-plummets-french-downgrade-looms-155906744.html Link to comment Share on other sites More sharing options...
NormanH Posted January 13, 2012 Share Posted January 13, 2012 And where is Cyprus? Link to comment Share on other sites More sharing options...
idun Posted January 13, 2012 Share Posted January 13, 2012 I do not understand this at all. These companies who make these decisions are something like Bond villains, just my opinion ofcourse, but that is how I feel about them. Link to comment Share on other sites More sharing options...
Quillan Posted January 13, 2012 Share Posted January 13, 2012 [quote user="idun"]I do not understand this at all. These companies who make these decisions are something like Bond villains, just my opinion of course, but that is how I feel about them.[/quote]Not really because these companies are more corrupt.I guess the UK papers will be gloating tomorrow. Give it six months and the UK will be loosing it's as well. Link to comment Share on other sites More sharing options...
woolybanana Posted January 13, 2012 Share Posted January 13, 2012 Corrupt, maybe, but they give a good impression of what state a State is in. But, there is an American election coming up.Anyway, most European states have been living way beyond their means and exporting jobs and deserve what they are getting. Link to comment Share on other sites More sharing options...
Quillan Posted January 13, 2012 Share Posted January 13, 2012 [quote user="woolybanana"]Corrupt, maybe, but they give a good impression of what state a State is in. But, there is an American election coming up.Anyway, most European states have been living way beyond their means and exporting jobs and deserve what they are getting.[/quote]Exactly and it takes the minds of Americans of the massive debts that Maine, California and New York State have which cumulatively make most of the EU's debts pale in to insignificance. Lets face the Euro is no friend of the dollar. Politicians are brilliant at pointing the finger at others to deflect comment away from their own problems. Link to comment Share on other sites More sharing options...
pachapapa Posted January 13, 2012 Share Posted January 13, 2012 In club-med lands, friday the 13th is a lucky day.There you are "dwarf", cant complain, you hit the jackpot this year.[:D] Link to comment Share on other sites More sharing options...
just john Posted January 13, 2012 Share Posted January 13, 2012 in denial: is a defense mechanism in which a person is faced with a fact that is too uncomfortable to accept. Link to comment Share on other sites More sharing options...
krusty Posted January 13, 2012 Author Share Posted January 13, 2012 [quote user="NormanH"]And where is Cyprus?[/quote]Its over in the far east of the med , near Israel .[Www] Link to comment Share on other sites More sharing options...
woolybanana Posted January 13, 2012 Share Posted January 13, 2012 Too close to Israel!! Link to comment Share on other sites More sharing options...
krusty Posted January 13, 2012 Author Share Posted January 13, 2012 Don't remind me Wooly , and is it true that nearly a thousand US troops are on the way to Israel ? Link to comment Share on other sites More sharing options...
woolybanana Posted January 13, 2012 Share Posted January 13, 2012 Probably. As well as experts in locating nuclear facilities, targetting etc. Link to comment Share on other sites More sharing options...
Sprogster Posted January 13, 2012 Share Posted January 13, 2012 Two of the main reasons are France has the largest exposure to Italian debt of any country by far and French banks exposure to Hungary. Neither of which apply to the UK. Link to comment Share on other sites More sharing options...
just john Posted January 13, 2012 Share Posted January 13, 2012 Graham Neilson, chief investment strategist at Cairn Capital, warned: "This is just the start. There will be more to come and not just in Europe – there is simply still too much debt and not enough growth in developed economies. Germany is already under review and one of the paths forward in this Eurozone situation includes a deterioration of Germany's debt metrics which the rating agencies will need to consider.http://www.guardian.co.uk/business/2012/jan/13/eurozone-crisis-france-credit-rating-aaa Link to comment Share on other sites More sharing options...
Sprogster Posted January 13, 2012 Share Posted January 13, 2012 Norman, Cyprus was downgraded two notches. Link to comment Share on other sites More sharing options...
Jazzer Posted January 14, 2012 Share Posted January 14, 2012 Not forgetting that the Us lost it's triple A back in August. Link to comment Share on other sites More sharing options...
Will Posted January 14, 2012 Share Posted January 14, 2012 [quote user="Quillan"] ...Give it six months and the UK will be loosing it's as well.[/quote]The UK may or may not lose its rating; the big difference between the two countries is that although UK too has large debts it has proved more able to cut and control spending than France. The difference between the two health services provide a good example of this; France's may well be 'better', but at a cost. Sarkozy was elected on a promise to improve things in this respect, but has failed - or more precisely has chickened out in the fact of great public protests at his planned measures. Link to comment Share on other sites More sharing options...
pachapapa Posted January 14, 2012 Share Posted January 14, 2012 In the sales Media Centre Leclerc Parthenay.[:)]http://www.amazon.fr/gp/product/images/2353370373/ref=dp_image_0/280-3995852-7040329?ie=UTF8&n=301061&s=books Link to comment Share on other sites More sharing options...
Quillan Posted January 14, 2012 Share Posted January 14, 2012 [quote user="Will"][quote user="Quillan"] ...Give it six months and the UK will be loosing it's as well.[/quote]The UK may or may not lose its rating; the big difference between the two countries is that although UK too has large debts it has proved more able to cut and control spending than France. The difference between the two health services provide a good example of this; France's may well be 'better', but at a cost. Sarkozy was elected on a promise to improve things in this respect, but has failed - or more precisely has chickened out in the fact of great public protests at his planned measures.[/quote]Yes Will but it also depends on it's ability to pay back the loans. Just like a person the UK needs to earn money to be able to pay back any loans. With unemployment rising, and it will rise quicker once the public sector cuts really take hold, the pound getting stronger (or the Euro getting weaker, whichever you prefer) exports to the Eurozone countries will be hit. Seeing how that's 40% of the UK export market it will effect the UK's ability to pay back the loans. The last thing the UK needs is a strong pound with relationship to the Euro and the dollar. Companies like Nissan and Toyota who export 80% of their cars to Europe will be particularly hit. That in turn will effect the smaller companies that manufacture and supply the parts to build the cars making even more people unemployed (just as one example). So just like a person if your ability to pay back loans gets smaller so does your credit rating. Link to comment Share on other sites More sharing options...
powerdesal Posted January 14, 2012 Share Posted January 14, 2012 [quote user="Quillan"][quote user="Will"][quote user="Quillan"] ...Give it six months and the UK will be loosing it's as well.[/quote]The UK may or may not lose its rating; the big difference between the two countries is that although UK too has large debts it has proved more able to cut and control spending than France. The difference between the two health services provide a good example of this; France's may well be 'better', but at a cost. Sarkozy was elected on a promise to improve things in this respect, but has failed - or more precisely has chickened out in the fact of great public protests at his planned measures.[/quote]Yes Will but it also depends on it's ability to pay back the loans. Just like a person the UK needs to earn money to be able to pay back any loans. With unemployment rising, and it will rise quicker once the public sector cuts really take hold, the pound getting stronger (or the Euro getting weaker, whichever you prefer) exports to the Eurozone countries will be hit. Seeing how that's 40% of the UK export market it will effect the UK's ability to pay back the loans. The last thing the UK needs is a strong pound with relationship to the Euro and the dollar. Companies like Nissan and Toyota who export 80% of their cars to Europe will be particularly hit. That in turn will effect the smaller companies that manufacture and supply the parts to build the cars making even more people unemployed (just as one example). So just like a person if your ability to pay back loans gets smaller so does your credit rating.[/quote] I am not convinced that the 40% export to the Eurozone is strictly accurate. I believe this figure is distorted by ''The Rotterdam Effect'' (maybe the wrong name) which classes all UK exports which go through Rotterdam as being exports to the Eurozone, even if said exports are in transit to other parts of the World. Even so, a strong pound is not necessarily a good thing. Link to comment Share on other sites More sharing options...
Thibault Posted January 14, 2012 Share Posted January 14, 2012 Quillan said.....Yes Will but it also depends on it's ability to pay back the loans. Just like a person the UK needs to earn money to be able to pay back any loans. With unemployment rising, and it will rise quicker once the public sector cuts really take hold, the pound getting stronger (or the Euro getting weaker, whichever you prefer) exports to the Eurozone countries will be hit. Seeing how that's 40% of the UK export market it will effect the UK's ability to pay back the loans. The last thing the UK needs is a strong pound with relationship to the Euro and the dollar. Companies like Nissan and Toyota who export 80% of their cars to Europe will be particularly hit. That in turn will effect the smaller companies that manufacture and supply the parts to build the cars making even more people unemployed (just as one example). So just like a person if your ability to pay back loans gets smaller so does your credit rating. But, of course, the UK being outside the EZ has the ability to devalue its own currency, something which EZ countries cannot. Link to comment Share on other sites More sharing options...
Quillan Posted January 14, 2012 Share Posted January 14, 2012 And last time the UK did that was under Wilson and look what happened then. The UK had to go to the IMF for a loan and to get it they had to cut the public sector even more taking unemployment over 3M which as a percentage was very high at the time. Link to comment Share on other sites More sharing options...
pachapapa Posted January 15, 2012 Share Posted January 15, 2012 The real culprit was...http://storage.canalblog.com/09/23/54235/71871682.jpg Link to comment Share on other sites More sharing options...
Frederick Posted January 15, 2012 Share Posted January 15, 2012 Where is he now ?..... Just keeping his head down or off on a last ride in his multy million euro airbus with its soundproof bedroom and specially fitted bread ovens before he has to sell it ! Link to comment Share on other sites More sharing options...
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