[KMA]Avenger wrote:France gets a credit downgrade by S&P, from AAA to AA. I've been listening to a few economic experts who are saying this is not a 1 off, there's going to be another credit downgrading for France coming this year....
Not having a dig at you Jim, or anything like that, i'm simply relaying the latest economic news with relation to the EU.
This is NOT good news at all!
I am believing more and more that these agencies (S&P, Moody's...) are a bunch of troublemakers theorists who are trolling countries who are trying to get off this crisis...I prefer not to imagine if the socialist candidate (well this party refuses to be called social-democrat..) for upcoming presidential elections wins, the downgrading will be even bigger consider the reputation of spenders they have.
Also, it's a single rate drop, like 10/10 down to 9/10, not like some countries who lost two levels, even think (unsure) one did lose three at once. It's not something positive obviously and rather negative, I fear the main effect will be that people as blinded as they are, will blame the current government and will vote for the left wing, and it's obviously not like this that we would get back the AAA...
Austria also lost their AAA. Austria considered to be one of these "serious" nations along with Germany and Netherlands regarding budget...
When did that happen, Friday the 13th...something I didn't miss.



If that's the criteria, lol it's a world of satanists...

