The French put the Economic Boot into UK!

Discussion in 'Economics' started by Giancarlo_Badass, Dec 16, 2011.

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  1. The chairman of the French central bank, Christian Noyer, has said ratings agencies should downgrade the UK before France because its economy is weaker.

    Speaking to French regional newspaper Le Telegramme, Mr Noyer said any downgrade should start with Britain "which has more deficits, as much debt, more inflation, less growth than us and where credit is slumping".

    BBC News - French banker says UK should be downgraded first
  2. Normally i'd agree, but he's a French Banker, and therefore a shit.
  3. Le Ffrench Pilloques response is entirely predictable.
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  4. But Britain did it too sir!
    This is why the Germans are your only friends France, bar those shifty looking African countries you hang around with.
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  5. Standard and Poors will do what they want - nobody except him gives a **** about his opinion.
  6. With Hungary and the Czechoslovakia backtracking already it seems as if the French and to a limited degree the Germans are in for a bumpy ride.
  7. If the French are complaining about us then I can only conclude that we are doing something right
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  8. ... but we are not shacked up with the rest of the eurozone, ie Greece and Portugal, like a millstone round the neck. I dont get the critism "... and where credit is slumping "... surely credits the ****ing problem.. a business who dosent want to borrow is a business that doesnt need to borrow and the managers of which accept/desire to grow organicly within their means.. only a banker can look upon debt as good...but of course we (brit taxpayer ) will be asked to fork out to the eurozone again.
  9. A French banker seeking to divert attention from his own countries' woes by slagging off Britain ...... ? Quel suprise !

    What it does mean is that behind closed doors, even the French know they are in the merde. Glory be !
  10. Well done to france for doing better than the UK.

    Maybe they should set an example and replace the UK at being the 2nd greatest net contributer to the EU then?

    Thought not.
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  11. Interesting article. I could never understand why these agencies (in particular Standard & Poor) got to have so much say in world economics.
    Can't we just tell them to keep their "opinions" (S&P's word) to themselves?
  12. Is this the same France with which we are going to share our aircraft carriers and form a combat force with? Surely not,
  13. BuggerAll

    BuggerAll LE Reviewer Book Reviewer

    Pierre Le banker is correct. The UK is in the economic merde. Why we are different to Greece, Ireland, Italy... etc is that we have a government that is not in total denial and is trying to do something about it. Albeit too timidly.

    The biggest risk to the UK is if the markets think that the Tories might lose the next election and let the lunatics take over the asylum again. If that happens we're****ed!
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  14. Alsacien

    Alsacien LE Moderator

    BofE QE measures will keep the ratings agencies on side for a while, especially when QEIII is already 90% likely to happen in springtime. In this context it is the fundamental that makes the difference - for the time being.
    Central Bankers know that every single word they say will be analysed, Trichet used to smile and roll his eyes whenever the topic came up which is the perfect CB response.
    Noyer has just proven why he was passed over for the ECB job in favour of Trichet, something which still pisses him off I understand.
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