I fart in your general direction!
“Your mother was a hamster and your father smelt of elderberries!”
“Fetchez la vache!”
Has it come to this 😉
French officials are irked that the euro-member country’s triple A status is under fire, while that of Britain has not so far come under threat, despite the UK’s higher deficit, similar debt levels, high inflation and sluggish economy. Their annoyance was fuelled by recent comments from George Osborne, UK chancellor, comparing France’s predicament to that of Greece.
The governor of France’s central bank has said Britain is more deserving of losing its top-notch credit rating than France as Paris braces itself for a potential downgrade of the country’s triple A status.
Course it does. That’s why French spreads are 80bps wider than UK 😉
Quel est le mot pour “sour grapes”?
[video]http://www.youtube.com/watch?v=DGXx56WqqJw&feature=player_embedded[/video]Posted 6 years agoTandemJeremyMember
binners – Member
I’m sure the poison dwarf has already got his speech written for when the Euro collapses. Blaming us! Can’t be long now
Actually… thinking about it…. has anyone ever seen Sarkozy and TJ in the same room….. Hmmmmmmmm, I wonder…..
You mean Sarkozy is Prince Philips love child as well?Posted 6 years agoMarkieMember
They do have a point… we’re (considerably) deeper in debt than the French, our economy is growing slower.
But France faces a lot more grief from the PIIGS Eurozone strife:Posted 6 years ago
The spreads have blindly followed S&P’s somewhat biased leaks and attempts to divert attention from their more fragile customers.
In this case I’ll translate “sour grapes” as “Le dépit Amoureux”, a Molière play in which the protagonists indulge in much bitching and many dirty tricks before marrying, and one assumes living happily ever after.Posted 6 years ago
we’re (considerably) deeper in debt than the French, our economy is growing slower.
Yes, but we’re not bound into a currency that’s about to be flushed down the toilet. I think the differing credit ratings of France and us tell us everything we need to know about what the markets think of the longevity of the EuroPosted 6 years ago
we’re (considerably) deeper in debt than the French
No we’re not. Our debt is 85% of GDP, france is 84% GDP.
The deficit for this year isnt so rosy, I think we’re 8.3% GDP and they’re 7% ish.
Binners – as it’s always been said, credit rating agencies follow the market, not vice versa. Edukator – really, the spreads have been widening long before the negative watch.Posted 6 years agoteamhurtmoreSubscriber
Indeed Markie – its the banks that are France’s achilles heels – their sub-prime has been lending excessively to the periphery. Ooops.
Not a very edifying spectacle from a central banker. Hence the FT headline: “Noyer should behave like a central banker.”
Perhaps TJ, they are acting in their own self-interest? Just a thought!!
Are S&P engaged in an Anglo Saxon conspiracy? 😉Posted 6 years ago
Don’t forget Britain’s debt:GDP is about 150% if you include bank bailouts, Markie.
Ce n’est pas du dépit, c’est un sentiment d’injustice face aux annonces partisanes des agences de notation. Un abus de pouvoir des agences qui a peut-être pour origine l’arrestation par la police française d’un chef d’agence ricain. A en croire la presse française.Posted 6 years ago
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