Standard & Poor's kills French top-rating

Standard & Poor's entzieht Frankreich Top-Bonität

from CNN money:
Breaking News

S&P downgrades debt of 9 eurozone nations, including France, Italy and Spain. French debt cut from AAA to AA+.
bloomberg:
FRANCE, ITALY RATINGS CUT BY S&P; PORTUGAL CUT TO JUNK
DAILY TELEGRAPH:
The yield on French, Italian and Spanish 10-year bonds jumped while Britain benefited again as traders fled to the safe haven of gilts. Stockmarkets withheld judgement, closing down marginally. The Stoxx 600 and French CAC slid 0.1pc.

Politicians and traders were scrambling to work out the ramifications of a full-scale Greek default, particularly on Europe's fragile banking sector, when word spread that Standard & Poor's (S&P) had downgraded two of the eurozone's six AAA-rated countries. Paris is scheduled to hold a bond auction on January 19.

Germany, the Netherlands, Finland and Luxembourg were spared but Austria was also downgraded by S&P. The exposure of its banks to Hungarian debt has meant Austria's credit rating has plunged with Budapest's stability.

S&P was accused of "playing politics" and being "out of order" by Michael Fuchs, deputy leader of Angela Merkel's Christian Democrats. The German politician added that Britain should also be downgraded.

"S&P must stop playing politics... why doesn't it act on the highly indebted United States or highly indebted Britain?" he demanded.


I mean the Fuchs-Fox reaction stinks. Portugal was always left. Simply to decry S&P as a bunch of lefties is lousy. Furthermore, I think the S&P decision is not totally flawed because it could be some (right and not left) way to describe the current state of EU econimics. Then again, if a was a Geman conservative, Id try to make a point or take a view instead of this pille-palle wischi washi flipshit view. And then, if I wanna overrun S&P, the red army yields more than Fox News on the "perspective of capitalism." Total utter bullshit.


To make it clear: Since when do I like right views by S&P? The question is easy: Does it grow in Portugal? It doesn't grow in Portugal. Then, well downgrade. OK, S&P is possibly not Adolf Hitler for this view, but they are probably pretty right. Then again, simply to call them a bunch of lefties, misses the mark. Id call the statement "unprepared" at best.

If it grows, you can pay back your debts faster. G.R.O.W.T.H. Its not about debt. But about growth.

I mean Merkel showed for longer her tough hand when it came to provide some money for example to Greece. The result was that Greece is in a flat out recession. The problem is not about debt. Its about GROWTH.

Good, not evrything is about the ability to pay back debt. I guess you can gas jews disregarding that they may have money to pay you. Despite, in a normal, cozy world without hallucinating foxes, it's only about that. Shortly, about growth.

Then again, I dont need growth. I can rest luckily on my Kolchose. But then, I need the red army and not Adolf Hitler to attack S&P. I'd call this DEBILE THINKING.

Growth means spin that wheel. If the great conservative attitude of Ms Merkel doesnt have such an option, I guess the only result result will be another devastating emergency break. That is actually what I call her: breaker Merkel.