Views: 2832|Replies: 4

UK loses triple A credit rating [Copy link] 中文

Rank: 3Rank: 3

Post time 2013-2-23 07:20:27 |Display all floors
Moody’s action cites deteriorating outlook
22 February 2013 Last updated at 22:41 GMT

The UK has lost its top AAA credit rating for the first time since 1978 on expectations that growth will "remain sluggish over the next few years".

The ratings agency Moody's became the first to cut the UK from its highest rating, to Aa1.
Moody's said that the government's debt reduction programme faced significant "challenges" ahead.
Chancellor George Osborne said the decision was "a stark reminder of the debt problems facing our country".

In announcing the ratings cut, Moody's cited the "challenges that subdued medium-term growth prospects pose to the government's fiscal consolidation programme, which will now extend well into the next parliament".
It added that the UK's huge debts were unlikely to reverse until 2016.
The UK's net sovereign debt was the equivalent of 68% of the country's annual economic output, or GDP, at the end of last year.
All three major credit agencies last year put the UK on "negative outlook", meaning they could downgrade its rating if performance deteriorates.

Use magic tools Report

Rank: 3Rank: 3

Post time 2013-2-23 07:23:09 |Display all floors
It's from Bad to   VERY BAD   for the UK.

Does China still want a currency-swap deal with this bankrupt little Anglo island?

Use magic tools Report

Rank: 3Rank: 3

Post time 2013-2-23 07:26:00 |Display all floors
For those Mainland fools who invested their fortune buying up London homes will soon see a foreign exchange depreciatuion of more than 20% by year end on their purchases.

It is never clever to buy assets into a declining nation!

Use magic tools Report

Rank: 3Rank: 3

Post time 2013-2-23 07:29:48 |Display all floors
I've just a thread out on Li Ka-shing's family.
They have been buying very heavily into the UK utility sectors in recent years. Old Li will be nursing heavy losses in the money market.

No tears shed for them!   

Use magic tools Report

Rank: 6Rank: 6

Post time 2013-2-25 19:06:14 |Display all floors
Uncle_Pang Post time: 2013-2-23 21:13
There will be fireworks in the London market on Monday!

AAA to zzz means the price (interest rate)  ...

Hmm Pound fell slightly & FTSE gained slightly. Hardly the fireworks that dear Uncle Peng predicted :) And the UK joins good company such as France & the US on its new rating (only Canada and Germany of the G7 retain AAA). Their borrowing rates btw remained fairly undamaged as a result.

My interest is in how the Anglo haters now respond. When downgrades of other nations occurred it was seen as an Anglo attack. Britain has now had a downgrade. Are the Anglos attacking themselves in order to destroy the Anglos? Selfish evil Anglos are even turning on themselves apparently. Or maybe that particular criticism was a pile of horse manure from the start.

Why are the British considered selfish and arrogant for not being in the Euro Uncle Peng? Every nation that joined the Euro did so because it was in their own national interest. Oh and Britain HAS lent money to some of the affected Eurozone nations - it even has an overseas aid budget of 10 billion for nations outside of the Euro. Though I sincerely now hope that will soon stop. After all as you gloat.. Britain is apparently broke.

Maybe China should show solidarity and join the Euro to show how unselfish it is

Use magic tools Report

You can't reply post until you log in Log in | register

Contact us:Tel: (86)010-84883548, Email:
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.