DislikedNoyer, the head of France's central bank suggested that the UK was a candidate for a credit rating downgrade. Why? France itself is a candidate may loose its AAA rating after two credit agencies last week indicated they were considering marking down countries in the eurozone.
But Bank of France governor Christian Noyer said they should instead be looking at the UK because of the scale of debt and inflation and the poor levels of growth and bank lending on this side of the Channel.
Noyer told Le Telegramme newspaper that a downgrade for France...Ignored
- UK is part of Europe but NOT part of the Eurozone
- UK has their own currency
- UK has their own central bank
- UK has been taking steps to deal with their problem.
- France is stuck in the Euro with 17 other countries with 17 different national governments.
- 17 different countries stuck with 1 central bank
- Eurozone keeps kicking the can down the road
- The richer nations don't want to pay for the poorer nations bailout, they expect the US, China, Japan, Russia and the rest of the world to do it.
I don't care which way the market is going as long as it's going my way