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France downgraded by Moody's
Wookster
Posts: 3,795 Forumite
Just happened and released on their website:
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I wish France had a website. It could be on there too. With a Facebook like button.0
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Markets, and it seems everyone else no longer care.
So long as more debt is flowing, thats all that seems to matter right now.0 -
With all that EU money flowing in their farmers what is the problem?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Markets, and it seems everyone else no longer care.
Alternatively, Moody's aren't saying anything that the markets couldn't work out for themselves.
What do you expect to happen? France have already been downgraded by S&P and Moody had them on negative watch. Everyone knows that the French aren't going to make meaningful changes to liberalize labour markets under a socialist Government: if Sarkozy couldn't deliver those reforms, Hollande won't.
Don't forget, Hollande is basically offering the alternative to Cameron.0 -
I didn't see any reference to it on this bb but the economist had a picture of french bread sticks looking like a bomb on their front cover last week with the article suggesting it is France which will finally bring the Euro crashing down.0
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I didn't see any reference to it on this bb but the economist had a picture of french bread sticks looking like a bomb on their front cover last week with the article suggesting it is France which will finally bring the Euro crashing down.
Ah, I thought of that too. I don't know how much Gen gets to see the Economist in Australia, but it has the French up in arms over that lead article which can be read here:
http://www.economist.com/news/leaders/21566640-why-france-could-become-biggest-danger-europes-single-currency-time-bomb-heart
This is countered, from a more left-leaning perspective, by the Guardian:
http://www.guardian.co.uk/commentisfree/2012/nov/18/france-timebomb-hollande-economist-warnings
Who's right, who's wrong? Time will tell.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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vivatifosi wrote: »Ah, I thought of that too. I don't know how much Gen gets to see the Economist in Australia, but it has the French up in arms over that lead article which can be read here:
http://www.economist.com/news/leaders/21566640-why-france-could-become-biggest-danger-europes-single-currency-time-bomb-heart
This is countered, from a more left-leaning perspective, by the Guardian:
http://www.guardian.co.uk/commentisfree/2012/nov/18/france-timebomb-hollande-economist-warnings
Who's right, who's wrong? Time will tell.
A very interesting couple of articles.
I simply can't see how a country's Government can spend almost 3/5ths of everything the country makes and the economy still function.
Unemployment and youth unemployment have been at levels far above anything the UK has seen since WW2, except possibly in the depths of the Thatcher/Howe recession for 30 years now. GDP has held up but permanent raised unemployment is surely a sign of a huge economic failure.0 -
A very interesting couple of articles.
I simply can't see how a country's Government can spend almost 3/5ths of everything the country makes and the economy still function.
Unemployment and youth unemployment have been at levels far above anything the UK has seen since WW2, except possibly in the depths of the Thatcher/Howe recession for 30 years now. GDP has held up but permanent raised unemployment is surely a sign of a huge economic failure.
To quote s selection from the Guardian article:taming of uncontrolled markets
I really struggle to see how it is possible to be independent from so called untamed financial markets if you are running a budgetary deficit and a trade deficit.
Furthermore, France is perhaps the only country in Europe to be actively resisting globalisation because they perceive it as a threat. In reality though, it is very difficult to see the pace of globalisation slowing unless there is a collapse of the Euro.0 -
I simply can't see how a country's Government can spend almost 3/5ths of everything the country makes and the economy still function.
It can in an undemocratic, state controlled socialist nightmare (depending how you define "function"). And that's what I suspect that Brussels and many of the governing classes in the individual countries are hoping to achieve.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0
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