Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Germany's AAA credit rating lowered to a negative outlook.
This is the first step to a downgrade and shows the burden they are carrying with all these continuous bail-outs of weak countries. A shot across the bow that the bail-outs cannot keep on and something has to give - the Euro specifically.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Its when not if Barry
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
agreed David. The sooner they face up to this the better.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry i do belive that the uk has a double A rating,in which makes germany better off than us.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian, Germany has been bailing people out, this warning suggests the money is running out
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
david,yes i know but there credit rating is still better than ours.the uk will be asking for a bailout sooner rather that later,and thats long before germany will need one.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian I think you miss the point, regardless of who needs a bailout the money has run out.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Well said David.
Brian - the logic of what you are saying is that Osborne should cut faster and deeper, as I have been saying.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,you have presumed wrong again,less cuts and a bit more stimulas please.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian, any stimulus means borrowing money, who would you suggest we borrow it from?
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Spot on David - we are even so still borrowing £billions every month because of the size of the deficit.
Higher deficit spending or delays to reducing it will damage our credit rating and push up interest rates, we will pay more on our mortgages and business loans seriously damaging any chance of recovery.
If Osborne clamps down further on the deficit, to be fair to Brian, he may be able to justify some borrowing for capital projects many of which are planned already by the coalition, but - the benefit is dubious as they are likely to just bring in more Polish builders to do the jobs as we have been seeing already.
The best stimulus is by further public spending cuts to reduce the tax burden on businesses and on employing people plus chopping the red tape burden on business to deirisk employment and in so doing boost growth.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
david,mr pickles is sitting on 92 billion pounds,and thats un used eu money going to waste.how much more eu money would you like.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Nonsense Brian.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian, I don't believe for one moment the govt is sitting on £92bn, where do you get this nonsense?
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
proven fact barry,mr pickels has a chushin of 92 billion pounds .cheak his goverment department.i am sure you can find it the same way as a female labour mp did.of course mr.pickles is in denial along with mr.osbourne.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian, what on earth are you on about?
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
david,eric pickles is sitting on 92 billion quid,what part of that dont you understand.you could look at some back copies of the natinionl press about 5 months worth would sufice to find the artical.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Brian, I dont understand any of it
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
the next problem will be a political one in germany.
mrs merkel's party have been taking hammerings in regional elections despite her overall personal popularity.
she will not allow any further bail outs to happen if she wants to retain power.
expect defaults from greece and spain.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
david,you will not understand the concept all the while you are towing the tory line.try seeing it from outside the box.
