Breaking New moody downgrade UK from AAA to AA1
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wanderer
- Kibkommer
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- Joined: Tue 03 Apr 2012 7:49 pm
Breaking New moody downgrade UK from AAA to AA1
Gormless Georgette rides again
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wanderer
- Kibkommer
- Posts: 1768
- Joined: Tue 03 Apr 2012 7:49 pm
Re: Breaking New moody downgrade UK from AAA to AA1
Calls for Osborne to quit as Britain loses top AAA credit rating and is downgraded to same level as France over fears of triple-dip recession
It is the first time since 1978 that the UK has seen its rating dropped from AAA
Britain had been placed on 'negative watch' by all three of the big rating agencies
But Chancellor Osborne remains bullish and says it only reinforces Britain's need to improve
The UK is now at the same rating level as France
Shadow Chancellor Ed Balls describes the move as a 'humiliating blow' to Osborne
By JOHN HUTCHINSON
PUBLISHED: 21:51, 22 February 2013 | UPDATED: 00:13, 23 February 2013
Comments (255)
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Bitter blow: But George Osborne insists that the Government cannot reverse its austerity programme
There are growing calls for Chancellor George Osborne to quit after the UK lost its cherished AA credit rating despite the Coalition's efforts to cut the deficit.
Moody's, one of the three main credit ratings agencies, announced that it was cutting Britain's rating to AA1, one notch below the top grade, dealing the government a massive economic blow.
It is the first time since 1978 that the UK has seen it's rating dropped from the AAA level.
The UK has long trumpeted its AAA rating as evidence that the country is economically stronger than the beleaguered eurozone.
The Government's austerity programme has long been intended to avoid the country avoiding the pariah status of European states like Greece, and George Osborne has previously trumpeted the UK's AAA rating as evidence the policy was working.
Read more: http://www.dailymail.co.uk/news/article ... z2Lg6734Nk
Follow us: @MailOnline on Twitter | DailyMail on Facebook
It is the first time since 1978 that the UK has seen its rating dropped from AAA
Britain had been placed on 'negative watch' by all three of the big rating agencies
But Chancellor Osborne remains bullish and says it only reinforces Britain's need to improve
The UK is now at the same rating level as France
Shadow Chancellor Ed Balls describes the move as a 'humiliating blow' to Osborne
By JOHN HUTCHINSON
PUBLISHED: 21:51, 22 February 2013 | UPDATED: 00:13, 23 February 2013
Comments (255)
Share
Bitter blow: But George Osborne insists that the Government cannot reverse its austerity programme
There are growing calls for Chancellor George Osborne to quit after the UK lost its cherished AA credit rating despite the Coalition's efforts to cut the deficit.
Moody's, one of the three main credit ratings agencies, announced that it was cutting Britain's rating to AA1, one notch below the top grade, dealing the government a massive economic blow.
It is the first time since 1978 that the UK has seen it's rating dropped from the AAA level.
The UK has long trumpeted its AAA rating as evidence that the country is economically stronger than the beleaguered eurozone.
The Government's austerity programme has long been intended to avoid the country avoiding the pariah status of European states like Greece, and George Osborne has previously trumpeted the UK's AAA rating as evidence the policy was working.
Read more: http://www.dailymail.co.uk/news/article ... z2Lg6734Nk
Follow us: @MailOnline on Twitter | DailyMail on Facebook
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Sandman
- Kibkommer
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- Joined: Mon 09 Apr 2012 12:18 am
Re: Breaking New moody downgrade UK from AAA to AA1
They are taking the austerity package too far too soon.
You can't stifle the economy and stimulate it at the same time.
But it's very difficult for very wealthy people to understand how their actions affect ordinary people and the current gov are blundering on regardless and still haven't reined the banks in - who caused the problem in the first place.
Mind you the last lot weren't much better!
We need strong cross party leadership - anyone know anyone suitable?
You can't stifle the economy and stimulate it at the same time.
But it's very difficult for very wealthy people to understand how their actions affect ordinary people and the current gov are blundering on regardless and still haven't reined the banks in - who caused the problem in the first place.
Mind you the last lot weren't much better!
We need strong cross party leadership - anyone know anyone suitable?
