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Credit Agency confirms independent Scotland set for Triple-A credit rating

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    Credit Agency confirms independent Scotland set for Triple-A credit rating

    Well isn't that a shocker. But the Westminster wizards remind us all the time we'd be doomed.


    Wealth levels of an independent Scotland will be comparable with countries that enjoy a Triple-A credit rating, ratings agency Standard & Poor’s has said.

    In a newly released report, the company today has confirmed that even without North Sea Oil revenue, a newly independent Scotland would "qualify for our highest economic assessment".

    In the report the ratings agency says:

    "The Scottish economy is rich and relatively diversified, with 2014 per capita GDP estimated to be US$47,369 (based on the Scottish government's estimates, which include Scotland's geographic share of North Sea output,...)

    Meanwhile on the beeb!!

    Yes vote could mean UK credit rating review, says Fitch

    A vote for Scottish independence would delay the UK's return to triple A credit status, according to the ratings agency, Fitch.

    A report by the agency suggested a Yes vote would hold "moderate risks" for the rest of the UK.

    The agency said there would be a "one off" increase in the UK's debt if Scotland left the UK.

    It also suggested some financial institutions could relocate to London, raising the UK's exposure to bank debt.

    In its report, Fitch said it assumed a No vote in September's referendum, based on current polls, but a Yes vote would mean it would review the UK's credit rating.


    So there you have it. Independent agencies saying a UK without money pouring in from Scotland is in the do da.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Originally posted by scooterscot View Post
    So there you have it. Independent agencies saying a UK without money pouring in from Scotland is in the do da.
    Are these the people who stamped 'AAA' all over packages of tulipe mortgages?
    And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

    Comment


      #3
      Originally posted by Mich the Tester View Post
      Are these the people who stamped 'AAA' all over packages of tulipe mortgages?
      The markets don't care about that stuff. Jeepers.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

      Comment


        #4
        Just because you saw a battery pack with the words AAA on it in a pound shop in Glasgow does not mean your economy has been stamped by a credit agency
        Let us not forget EU open doors immigration benefits IT contractors more than anyone

        Comment


          #5
          Originally posted by scooterscot View Post
          The markets don't care about that stuff. Jeepers.
          Then you shouldn't care about an 'AAA' rating from a bunch of overpriced feckwhits.
          And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

          Comment


            #6
            Originally posted by Mich the Tester View Post
            Then you shouldn't care about an 'AAA' rating from a bunch of overpriced feckwhits.
            Well George cares, the city of London cares, tell me why they care?
            "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

            Comment


              #7
              The material prosperity of a nation is not an abiding possession; the deeds of its people are.

              George Frederic Watts

              http://en.wikipedia.org/wiki/Postman's_Park

              Comment


                #8
                I see where Standard & Poor got confused they mixed up Benefit payments and pr capita GDP.

                Its like a Mortgage to a New Orleans Doley and a Russian Oligarch's secured loan, they look so much alike.
                Always forgive your enemies; nothing annoys them so much.

                Comment


                  #9
                  Originally posted by Mich the Tester View Post
                  Are these the people who stamped 'AAA' all over packages of tulipe mortgages?
                  Just a caveat - these firms were using all the 'in' models at the time and would've been laughed out of the room if they downgraded some of these products, back in 2006. The fact that they didn't says more about the market sentiment at the time. They took a bit of time to find a backbone and begin downgrading sovereign debt, though, but when you see the US' hysterical reaction to it, you can understand why.

                  Comment


                    #10
                    US reacted hysterically because of this:
                    If UKIP are the answer, then it must have been a very stupid question.

                    Comment

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