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Author Topic: S&P Downgrade France  (Read 1640 times)

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Offline Barman

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S&P Downgrade France
« on: January 13, 2012, 04:24:22 PM »
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Reports of an imminent S&P downgrade of several eurozone nations - including AAA-rated France - triggers sharp fall in euro, knocks stock markets and pushes eurozone borrowing costs higher.

And so it begins...?  rubschin:
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Offline The Moan Ranger

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Re: S&P Downgrade France
« Reply #1 on: January 13, 2012, 04:26:04 PM »
Yup. Good.
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Offline Nick

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Re: S&P Downgrade France
« Reply #2 on: January 13, 2012, 04:27:58 PM »
Coming soon: Germany invades France. France surrenders.
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Offline The Moan Ranger

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Re: S&P Downgrade France
« Reply #3 on: January 13, 2012, 04:30:56 PM »
...fer a change, like...
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Offline Pastis

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Re: S&P Downgrade France
« Reply #4 on: January 13, 2012, 05:01:59 PM »
Announcement due 8pm tonight ... after the markets have shut up shop for the weekend no doubt  rubschin:
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Offline Pastis

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Re: S&P Downgrade France
« Reply #5 on: January 13, 2012, 08:10:16 PM »
Kerching!    It's a game of skittles this weekend   whistle:
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Offline Snoopy

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Re: S&P Downgrade France
« Reply #6 on: January 14, 2012, 06:48:19 AM »
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Country    Old Rating    New Rating    Cut

Austria         AAA                AA+               One notch, loses top rating

Belgium         AA                AA                   None

Cyprus       BBB                 BB+                 Two notches to junk

Estonia        AA-                AA-                 None

Finland      AAA                 AAA                 None

France       AAA                 AA+                One notch, loses top rating

Germany   AAA                AAA                  None

Ireland      BBB+             BBB+                None

Italy              A               BBB+                 Two notches

Luxembourg AAA            AAA                  None
 
Malta             A                 A-                   One notch

Netherlands AAA            AAA                 None

Portugal       BBB-            BB                 Two notches to junk

Slovakia        A+             A                     One notch

Slovenia      AA-            A+                    One notch

Spain           AA-           A                     Two notches   


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Offline Barman

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Re: S&P Downgrade France
« Reply #7 on: January 14, 2012, 08:03:55 AM »
Junk!  lol:
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Offline Snoopy

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Re: S&P Downgrade France
« Reply #8 on: January 14, 2012, 08:07:03 AM »
 rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?
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Offline Barman

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Re: S&P Downgrade France
« Reply #9 on: January 14, 2012, 08:11:09 AM »
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

Well I haven't got it....  noooo:
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Offline Snoopy

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Re: S&P Downgrade France
« Reply #10 on: January 14, 2012, 08:18:47 AM »
Quote from: Barman on January 14, 2012, 08:11:09 AM
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

Well I haven't got it....  noooo:

I know that but historically if one country had something that other countries didn't then those without simply declared a war and took whatever they wanted. In this case it seems to me that certain banks and individuals have grabbed all the munny and are lending back it to those without. So don't pay it back ~ what are they going to do about it eh?
OK, Dress it up and call it default if you like but if Greece (for example) defaults on its debts. What are the rest going to do? Invade Greece and seize ......... what? ~ A few goats and some olives?  Shrugs:
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Offline Barman

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Re: S&P Downgrade France
« Reply #11 on: January 14, 2012, 08:26:28 AM »
Quote from: Snoopy on January 14, 2012, 08:18:47 AM
Quote from: Barman on January 14, 2012, 08:11:09 AM
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

Well I haven't got it....  noooo:

I know that but historically if one country had something that other countries didn't then those without simply declared a war and took whatever they wanted. In this case it seems to me that certain banks and individuals have grabbed all the munny and are lending back it to those without. So don't pay it back ~ what are they going to do about it eh?
OK, Dress it up and call it default if you like but if Greece (for example) defaults on its debts. What are the rest going to do? Invade Greece and seize ......... what? ~ A few goats and some olives?  Shrugs:

Yes, the basic problem is that all this munny doesn't actually exist at all... it is just 0s and 1s inside computers... And the 'value' of the 0s and 1s greatly exceeded the value of the held assets many years ago...

I think if Greece defaults they'll just unplug the computer, plug it in again and start all over....  lol:
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Offline Snoopy

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Re: S&P Downgrade France
« Reply #12 on: January 14, 2012, 08:28:13 AM »
Quote from: Barman on January 14, 2012, 08:26:28 AM
Quote from: Snoopy on January 14, 2012, 08:18:47 AM
Quote from: Barman on January 14, 2012, 08:11:09 AM
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

Well I haven't got it....  noooo:

I know that but historically if one country had something that other countries didn't then those without simply declared a war and took whatever they wanted. In this case it seems to me that certain banks and individuals have grabbed all the munny and are lending back it to those without. So don't pay it back ~ what are they going to do about it eh?
OK, Dress it up and call it default if you like but if Greece (for example) defaults on its debts. What are the rest going to do? Invade Greece and seize ......... what? ~ A few goats and some olives?  Shrugs:

Yes, the basic problem is that all this munny doesn't actually exist at all... it is just 0s and 1s inside computers... And the 'value' of the 0s and 1s greatly exceeded the value of the held assets many years ago...

I think if Greece defaults they'll just unplug the computer, plug it in again and start all over....  lol:

Exactly! And if we all did that then Bill Gates would end up with the same as me .... Fvck All!  cloud9:
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Offline Uncle Mort

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Re: S&P Downgrade France
« Reply #13 on: January 14, 2012, 08:29:09 AM »
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

China and the oil producing Middle East countries hold much of the debt.

But then again pension funds hold government bonds, we have national savings , premium bonds and such so I guess we hold some of our own debt.  eeek:
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Offline Snoopy

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Re: S&P Downgrade France
« Reply #14 on: January 14, 2012, 08:31:11 AM »
Quote from: Uncle Mort on January 14, 2012, 08:29:09 AM
Quote from: Snoopy on January 14, 2012, 08:07:03 AM
rubschin: What I want to know is who has all the friggin munny then?

I mean someone must have it ~ why don't we just take it?

China and the oil producing Middle East countries hold much of the debt.

But then again pension funds hold government bonds, we have national savings , premium bonds and such so I guess we hold some of our own debt.  eeek:


Sh*t!  doh:  I just knew someone with common sense would come along and ruin my cunning plan.
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