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#1
France has lost its top AAA credit rating from Standard & Poor's and eight other eurozone governments have also been downgraded by the ratings agency.

Italy, Spain, Cyprus and Portugal were cut two notches, with the latter two given "junk" ratings. Germany kept its AAA rating, and with a stable outlook.

http://www.bbc.co.uk/news/business-16552623

For those of you who aren't following this whole euro shenaningans, this is pretty bad news... atleast Germany kept their credit rating, otherwise the euro surely would've been (even more) fucked.

Hoping the eurozone countries will get their shit together soon...
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#5
lol euro. Thank god we didn't join that shitfest.
dirtbag ballet by the bins down the alley
as i walk through the chalet of the shadow of death
everything that you've come to expect


#6
Netherlands still AAA and no serious chance of being downgraded?

(Invalid img)
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ಠ_ಠ
#7
And how does this affect us Swedes?
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#8
Quote by Trowzaa
lol euro. Thank god we didn't join that shitfest.


In a couple of months nobody will want the pound without a high risk premium. Mark my words.
Quote by Carmel
I can't believe you are whoring yourself out like that.

ಠ_ಠ
#9
Standard & Poor's doesn't sound like something I'd trust to tell me about financial stuff. Rather than some obscure poor people I think I'd prefer some stockbroker or something to advise me about my country's financial situation...
#10
Quote by LRCGUITAR
Standard & Poor's doesn't sound like something I'd trust to tell me about financial stuff. Rather than some obscure poor people I think I'd prefer some stockbroker or something to advise me about my country's financial situation...


Usually these credit ratings come after financial institutions already thought the same. It's just the last push.
Quote by Carmel
I can't believe you are whoring yourself out like that.

ಠ_ಠ
#13
Quote by LRCGUITAR
Standard & Poor's doesn't sound like something I'd trust to tell me about financial stuff. Rather than some obscure poor people I think I'd prefer some stockbroker or something to advise me about my country's financial situation...


S&P is hardly obscure. Financial institutions rely on their risk analysis of stocks and bonds all the time. I would say that they have been largely accurate in rating agencies (except for the time they inadvertently caused the GFC but whatever). And what Neo Evil said is sorta true, it has been observed that France had gone down the shitters weeks ago but only had a downgrade now.
Last edited by Cianyx at Jan 13, 2012,
#14
Quote by Neo Evil11
In a couple of months nobody will want the pound without a high risk premium. Mark my words.

In a couple of months it's going to be 1941 again without Germany firing a shot.
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#16
Quote by Neo Evil11
In a couple of months nobody will want the pound without a high risk premium. Mark my words.


According to wiki, Netherlands is AAA negative, UK is AAA stable Come at me bro.
(I don't know what any of this means)
dirtbag ballet by the bins down the alley
as i walk through the chalet of the shadow of death
everything that you've come to expect


#17
Quote by Jackal58
In a couple of months it's going to be 1941 again without Germany firing a shot.


That's what a lot of people said on the Daily Mail comment section.

Germany doesn't want to war with weapons but with money. Control the economy, control the countries.
#18
Quote by JackalUK
That's what a lot of people said on the Daily Mail comment section.

Germany doesn't want to war with weapons but with money. Control the economy, control the countries.

And after that, control ZE WORLD!
#19
I think those credit rating bureau's are losing all their credibility. They're constantly downgrading healthy countries.

But I'm afraid it's a self fulfilling prophecy. When they downgrade a country because they say it's crap (even when it's not) noone will want to trade with it and it will become a shit country (even though it would've been a finacial reasonable country)
#20
credit ratings have always been complete bollocks anyway
now extra flamey
#21
Quote by CoreysMonster
And after that, control ZE WORLD!


Damned you, I was going to make that joke. Damned Ze Germans. Damned zem all!
#22
Quote by JackalUK
That's what a lot of people said on the Daily Mail comment section.

Germany doesn't want to war with weapons but with money. Control the economy, control the countries.

As much as I dislike that fear mongering rag and the morons that read it they're actually close to being right. Probably for all the wrong reasons but hey.
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#24
Another example as to why one unified currency amongst countries with different economic philosophies was ALWAYS a bad idea.
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#25
While that sounds all doom and gloom, the markets have only lost roughly 0.5% respectively. Thats next to nothing.

Although the BBC and every other world news station will say its the end of the world. Seriously? 0.5%?
For, Fock, Sake.

This is the % at the time of my post. Subject to change

Edit: I'm sure I could shit 0.5% of my body weight but I wont go into a colma. This whole Financial Crisis is so ridiculous


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Last edited by apmaman at Jan 13, 2012,
#27
Quote by Jackal58
As much as I dislike that fear mongering rag and the morons that read it they're actually close to being right. Probably for all the wrong reasons but hey.

I was about to say "Yeah, I don't think many people actually think that Germany has some underhanded plot to take over Europe, they're just trying to use their economic power to influence the conduct of countries to the way they think is best" but then I realised it's the mail and... well that's enough really.
Rhythm in Jump. Dancing Close to You.

Quote by element4433
Yeah. people, like Lemoninfluence, are hypocrites and should have all their opinions invalidated from here on out.
#28
Whilst this is serious as it will increase on budget strains on nations already majorly in debt, my first thought was 'lol, France'. When it was suggested they might face downgrade, they replied: 'What the hell? Us? WHAT ABOUT THE ENGLISH?!' Because of that, it amuses me a bit
Quote by apmaman
While that sounds all doom and gloom, the markets have only lost roughly 0.5% respectively. Thats next to nothing.

Although the BBC and every other world news station will say its the end of the world. Seriously? 0.5%?
For, Fock, Sake.

This is the % at the time of my post. Subject to change

Edit: I'm sure I could shit 0.5% of my body weight but I wont go into a colma. This whole Financial Crisis is so ridiculous

It didn't hit so hard today because people saw it coming. The mere consideration of it also wasn't great news in the eyes of investors.
#29
Quote by Lemoninfluence
I was about to say "Yeah, I don't think many people actually think that Germany has some underhanded plot to take over Europe, they're just trying to use their economic power to influence the conduct of countries to the way they think is best" but then I realised it's the mail and... well that's enough really.

There is nothing underhanded at all about what Germany is doing. They've been pretty upfront about it all actually. "Relinquish your economic sovereignty to us and we'll bail you out."
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#30
How does it feel to join the United Shits of America, multiple Euro countries?
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#31
Quote by zgr0826
How does it feel to join the United Shits of America, multiple Euro countries?


Actually, USA is in a way better situation. Portugal could promise all the gold in Fort Knox and no one would lend them money.
#32
Quote by Cianyx
Actually, USA is in a way better situation. Portugal could promise all the gold in Fort Knox and no one would lend them money.

I mean credit rating only.
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#34
Quote by Jackal58
There is nothing underhanded at all about what Germany is doing. They've been pretty upfront about it all actually. "Relinquish your economic sovereignty to us and we'll bail you out."


If i was Germany i would do the same
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#35
Quote by Waterboy799
If i was Germany i would do the same

I'm not condemning Germany or their policies. I'm just watching Europe with a sense of bemusement for the moment.
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#36
Quote by ChemicalFire
Another example as to why one unified currency amongst countries with different economic philosophies was ALWAYS a bad idea.


I think I can actually see why Britain staying out of the Eurozone is a good idea.
#38
Quote by Tanglewoodguit
The world should just scrap all the money and start again.



Excellent idea. Send it to me and I'll dispose of it.
Properly of course.
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