Credit rating downgraded

MOODY’S Investors Service has downgraded Britain’s Government bond rating (credit rating) one notch from AAA to AA1, due to sluggish growth and rising debt affecting the medium term outlook.

This country is now at about the same level as the rest of Europe, except Germany which, like Canada, is still graded AAA.

The European area has been in recession and is expected to remain so for the rest of 2013. Britain’s economy is bound to be affected by the European markets and had managed retain it credit rating despite until recently. European countries included in Moody’s rating register are now similar to this country.

All of these are applying austerity measures to cope with the same problems. Time will tell if all of these are wrong.

J Beisly, Osprey Close, York.

Comments (2)

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10:28am Wed 27 Feb 13

Even AndyD says...

Osborne called for an immediate election in 2009 when there was talk of downgrading the AAA. Now he just wheels out a LibDem to say it doesn't really matter.

FWIW, the rating is largely symbolic, but the average politician's taste for bare faced hypocrisy is nothing short of distasteful nowadays.

Time for all politicians of all persuasions to be called into account. 'Its all the fault of the other side' is no longer acceptable.
Osborne called for an immediate election in 2009 when there was talk of downgrading the AAA. Now he just wheels out a LibDem to say it doesn't really matter. FWIW, the rating is largely symbolic, but the average politician's taste for bare faced hypocrisy is nothing short of distasteful nowadays. Time for all politicians of all persuasions to be called into account. 'Its all the fault of the other side' is no longer acceptable. Even AndyD

11:01am Wed 27 Feb 13

George Appleby says...

One in four Italians are voting against them all. Might it catch on?
One in four Italians are voting against them all. Might it catch on? George Appleby

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