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Tue Nov 20, 2012, 05:48 AM

Sorry, folks, but we can't have you electing a left-of-centre government.

http://www.guardian.co.uk/world/2012/nov/20/moodys-downgrades-france-credit-rating

Speaks for itself, IMHO.

The Skin

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Reply Sorry, folks, but we can't have you electing a left-of-centre government. (Original post)
non sociopath skin Nov 2012 OP
LeftishBrit Nov 2012 #1
enlightenment Nov 2012 #2
dipsydoodle Nov 2012 #3

Response to non sociopath skin (Original post)

Tue Nov 20, 2012, 07:13 AM

1. These rating groups have far too much power

They use it to blackmail governments into making more and more cuts. At least when the IMF does it, they directly hold the purse-strings; Moodys and Standard and Poor (suitable names in both cases, especially the second) are just selling their opinions, which are of value only because people take them seriously.

At the extremes, it amounts to a form of economic terrorism.

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Response to LeftishBrit (Reply #1)

Tue Nov 20, 2012, 09:05 PM

2. Thank you.

I've been saying this for years. It's ridiculous.

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Response to non sociopath skin (Original post)

Wed Nov 21, 2012, 02:27 PM

3. I think you might find

that as soon as Hollande came into power his own office of budgetary control told him it would impossible to keep the promises he had made. That is not say that the cons would've done any better. The downgrade is just a reflection of their now current economic situation regardless of which party is in power.

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