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Ireland cut to junk status!

StevieJ
StevieJ Posts: 20,174 Forumite
Part of the Furniture 10,000 Posts Combo Breaker
in Debate House Prices & the Economy
By Moody's although the other two agencies have them at 3 levels above junk. Remind me which was the one that had Lehman's at AAA just before they went bust :eek:

http://www.bloomberg.com/news/2011-07-12/ireland-is-third-euro-area-country-cut-to-junk-joining-greece-portugal.html
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'm sure that the UK will come under fire at some point. We're far from immune.
  • 1984ReturnsForReal_2
    1984ReturnsForReal_2 Posts: 15,431 Forumite
    For sure For Sure


    ...........
    Not Again
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    As is starting to be questioned - we must be looking behind the scenes here. These ratings agencies are generally American. Apart from the fact that Americans have never understood Europe [and in many cases don't know where the hell it is], they all know that USA is looking fairly 'terminal' and only by downgrading Europe, can they subsequently make USA look 'good' by comparison.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Loughton_Monkey wrote: »
    As is starting to be questioned - we must be looking behind the scenes here. These ratings agencies are generally American. Apart from the fact that Americans have never understood Europe [and in many cases don't know where the hell it is], they all know that USA is looking fairly 'terminal' and only by downgrading Europe, can they subsequently make USA look 'good' by comparison.

    The US could very easily become insular and if need be self sufficient. So can afford a degree of arrogance.
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    Thrugelmir wrote: »
    The US could very easily become insular and if need be self sufficient. So can afford a degree of arrogance.

    What do you mean "become" insular?
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    Some say that the US is insolvent or will be unless they fix their budget in two weeks. How come the exclusively US based credit authorities fail to comment on their national short comings ? Standard and Poos rate the US of A as AAA, pristine.
    They are skint and they know they are, like many other nations.
    J_B.
  • shaggydoo
    shaggydoo Posts: 8,435 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Loughton_Monkey wrote: »
    As is starting to be questioned - we must be looking behind the scenes here. These ratings agencies are generally American. Apart from the fact that Americans have never understood Europe [and in many cases don't know where the hell it is], they all know that USA is looking fairly 'terminal' and only by downgrading Europe, can they subsequently make USA look 'good' by comparison.

    How true! :T:T
    What do we do when we fall? We get up, dust ourselves off and start walking in the right direction again. Perhaps when we fall, it is easy to forget there are people along the way who help us stand and walk with us as we get back on track.
  • shaggydoo
    shaggydoo Posts: 8,435 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Joe_Bloggs wrote: »
    Some say that the US is insolvent or will be unless they fix their budget in two weeks. How come the exclusively US based credit authorities fail to comment on their national short comings ? Standard and Poos rate the US of A as AAA, pristine.
    They are skint and they know they are, like many other nations.
    J_B.

    Well I'm quite glad for them to keep on kidding themselves 'cos when the're p***ed they just start another war :eek::eek:
    What do we do when we fall? We get up, dust ourselves off and start walking in the right direction again. Perhaps when we fall, it is easy to forget there are people along the way who help us stand and walk with us as we get back on track.
  • Blacklight
    Blacklight Posts: 1,565 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Here's what Portugal thought about it happening to them:

    346497?tp=UH&db=IMAGENS&w=350&ts=1310555978,63124
This discussion has been closed.
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