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scooterscot
13th January 2012, 19:01
German conservative advises UK downgrade | Reuters (http://uk.reuters.com/article/2012/01/13/uk-germany-ratings-britain-idUKTRE80C1UA20120113)

He has a point...



KIEL, Germany | Fri Jan 13, 2012 6:38pm GMT

(Reuters) - A senior German lawmaker Friday accused ratings agency Standard and Poor's of playing politics, saying the U.S. agency should also downgrade Britain if it downgrades France as expected.

Michael Fuchs, deputy leader of the parliamentary group for Chancellor Angela Merkel's Christian Democrats, said S&P had a distorted view of the euro zone and that downgrades of its member states were politically motivated.

"This step is out of order," he told Reuters on the sidelines of a party meeting, in reference to reports S&P would cut the ratings of several euro zone states later in the day.

"Standard and Poor's must stop playing politics... why doesn't it act on the highly indebted United States or highly indebted Britain?" he said, pointing out that Britain has higher public debt and deficits than France.

"If the agency downgrades France, it should also downgrade Britain in order to be consistent," he said, adding that this was unlikely.

The situation was another reminder for Europe that it needs its own independent ratings agency, he added.

(Reporting by Andreas Rinke, writing by Brian Rohan; editing by Ron Askew)

DimPrawn
13th January 2012, 19:21
We can easily pay off our debts, infact we could pay off all the World's debts a million times over.

Ask Merv about his new printer.

TimberWolf
13th January 2012, 19:23
Remember the golden rule: he who owns the gold makes the rules.

Or in this case banks, and the ability to print pretend gold and make pretend rules.

MarillionFan
13th January 2012, 19:26
We can easily pay off our debts, infact we could pay off all the World's debts a million times over.

Ask Merv about his new printer.

Got myself one as well. Just can't seem to change it from US to UK though.

http://www.stopliberallies.com/wp-content/uploads/2010/11/printing-money.jpg

OwlHoot
13th January 2012, 19:29
The situation was another reminder for Europe that it needs its own independent ratings agency, he added.

:rollin:

sasguru
13th January 2012, 19:59
He's not as stupid as most Germans. At least he's beginning to understand the Anglo-Saxon plot to destroy the Euro.:smokin
Mind you the Anglo-Saxons have always bested the Teutons - see the US, Canada, Australia, NZ.
Not one of their leaders has a German name :smokin

AtW
13th January 2012, 20:17
Make it illegal to insure tulip like risks of default (don't lend at all if you think it can happen and if you do take full risk of loss) and also any rating activity - whoever chooses to take risks should do their own research.

scooterscot
13th January 2012, 21:03
Remember the golden rule: he who owns the gold makes the rules.

Italy has more han double England's gold reserves.

There be a gold mine in Scotland, don't know about those in England though...

KimberleyChris
13th January 2012, 21:19
"The situation was another reminder for Europe that it needs its own independent ratings agency, he added."

Would anybody listen to a European Ratings Agency if it rated its own credit-worthiness??

Surely that's what triggered this whole damned mess in the first place...Americans self-certifying their own credit-worthiness to their two big mortgage lenders without evidence?

scooterscot
13th January 2012, 21:44
"The situation was another reminder for Europe that it needs its own independent ratings agency, he added."

Would anybody listen to a European Ratings Agency if it rated its own credit-worthiness??


For the same reason markets listen to US agencies, they've no mind of they're own.

Waldorf
13th January 2012, 22:11
Italy has more han double England's gold reserves.

There be a gold mine in Scotland, don't know about those in England though...

Remind us which Scottish politician (clue, he was the Chancellor of the Exchequer and then Prime Minister) who sold all our gold at a very low price......

scooterscot
13th January 2012, 23:02
Remind us which Scottish politician (clue, he was the Chancellor of the Exchequer and then Prime Minister) who sold all our gold at a very low price......

you get what you vote for

gingerjedi
13th January 2012, 23:09
you get what you vote for

Did the UK bugger you senseless as a kid?

Arturo Bassick
14th January 2012, 09:17
German conservative advises UK downgrade | Reuters (http://uk.reuters.com/article/2012/01/13/uk-germany-ratings-britain-idUKTRE80C1UA20120113)

He has a point...How does he have a point? If anything he (like most Europhiles) is completely missing the point.
The credit rating is based on an assessment of an ability to pay its debts, not how big those debts are.
A major factor for the nations in question is the measures they can take with their currencies (and other financial policies) to resolve any problems they face.
Quite simply, the UK is master of its own destiny where the other EU countries are puppets to the needs of Europe as a whole.

sasguru
14th January 2012, 09:23
How does he have a point? If anything he (like most Europhiles) is completely missing the point.
The credit rating is based on an assessment of an ability to pay its debts, not how big those debts are.
A major factor for the nations in question is the measures they can take with their currencies (and other financial policies) to resolve any problems they face.
Quite simply, the UK is master of its own destiny where the other EU countries are puppets to the needs of Europe as a whole.

Don't tax his brain cell with logic.

Moscow Mule
14th January 2012, 09:24
Italy has more han double England's gold reserves.

There be a gold mine in Scotland, don't know about those in England though...

Italy has more than double Switzerland or China's gold reserves.

If you want to be even more depressed, Britain has less gold than Iran.

Doggy Styles
14th January 2012, 09:47
Italy has more than double Switzerland or China's gold reserves. It sounds like they are going to need it! :laugh

petergriffin
14th January 2012, 14:26
He's not as stupid as most Germans. At least he's beginning to understand the Anglo-Saxon plot to destroy the Euro.:smokin
Mind you the Anglo-Saxons have always bested the Teutons - see the US, Canada, Australia, NZ.
Not one of their leaders has a German name :smokin

Because they changed their name to Windsor.

AtW
14th January 2012, 14:42
If you want to be even more depressed, Britain has less gold than Iran.

Well that can be corrected... :eyes

scooterscot
14th January 2012, 19:47
Did the UK bugger you senseless as a kid?

Never felt part of it. I could still count the number times I crossed the boarder over to England by the time I was 25. Twice.

scooterscot
14th January 2012, 19:54
The credit rating is based on an assessment of an ability to pay its debts, not how big those debts are.

no no no.

This is classic Houdini. Create a distraction over there and perhaps everyone else shall not pay attention to our application of $1.25 trillion printing request.

The US and UK are hopping mad not a single euro has been printed whilst both face an ever growing need for massive devaluation.

sasguru
15th January 2012, 12:25
no no no.

This is classic Houdini. Create a distraction over there and perhaps everyone else shall not pay attention to our application of $1.25 trillion printing request.

The US and UK are hopping mad not a single euro has been printed whilst both face an ever growing need for massive devaluation.

Yes, the next "distraction" coming up is Greece defaulting on its debts.
Cretin.