Osborne Says Markets Back Him as He Shrugs Off U.K. Downgrade

From bloomberg.com

Chancellor of the Exchequer George Osborne said investors have backed his fiscal and economic plans as he cast aside concerns about his policy after the U.K. lost its top credit rating. “We have not seen excessive volatility in markets,” Osborne told lawmakers in London today after Moody’s Investors Service cut the U.K. to Aa1 from Aaa. “This government’s economic policy is tested day in and day out in the markets and it’s not been found wanting today.” The chancellor, who has repeatedly referred to retaining the top rating as a test for his economic policy, was speaking after the opposition Labour Party ... (full story)