The Gloves are Off

[Terpe]

Looks like the gloves are off.

The chairman of the French central bank, has suggested that the UK credit rating should be downgraded from it's AAA
He said that the UK deficit was bigger, the inflation higher and the economy weaker than France.

How on earth can 'the European Community' allow the Bank of France head honcho make such suggestions to 'take-out' the Bank of England?

I hope that DC is able to come up with suitable counterpunch.
Should be a very interesting Anglo-French conference soon.

And still the key 'papers' for Eurozone are blank. Pah!!

French banker says UK should be downgraded first

The chairman of the French central bank, Christian Noyer, has said ratings agencies should downgrade the UK before France because its economy is weaker.

US agency Standard and Poor's recently warned France its rating could suffer over the eurozone crisis and downturn.

"The downgrade does not appear to me to be justified when considering economic fundamentals," Mr Noyer said.

The British Government responded by saying the UK had a credible plan for dealing with its deficit.

Speaking to French regional newspaper Le Telegramme, Mr Noyer said any downgrade should start with Britain "which has more deficits, as much debt, more inflation, less growth than us and where credit is slumping".

Britain was not identified as a credit risk by Standard and Poor's in its report earlier this month.

The spokesman for UK Prime Minister David Cameron said: "Credit ratings are a matter for credit rating agencies but we've put in place a credible deficit reduction plan and you can see that credibility in the UK's bond yields."

There is a sense of frustration across the eurozone that last week's summit in Brussels seems to have done little to calm the financial markets, the BBC's Chris Morris reports

Relations have been strained between France and Britain, which vetoed changes to the Lisbon Treaty that would have allowed for closer economic integration.

Hungary and the Czech Republic raised concerns on Thursday about the plans for a closer fiscal union, saying they should apply only to eurozone states.

Loss of the top credit grade would have serious economic implications for France, increasing the interest rate it paid for new state borrowing

Source:-
http://www.bbc.co.uk/news/world-europe-16207748

[Englishman2010]

I was just reading that on the Beeb too

I'm sure there will be an official apology tomorrow I wonder if he'll be a bit more friendly to the UK in 6 months when he finally wakes up and realises that Germany is running Europe again, and they need Britain to come to the rescue again.

I've given up caring what Euro politicians and economists say about the UK, the sooner we form a Free Trade partnership with the English speaking world the better

[Dedworth]

I've given up caring what Euro politicians and economists say about the UK, the sooner we form a Free Trade partnership with the English speaking world the better

Seconded

[grahamw48]

Did they get any comment from former French President Chirac, just given a 2 year suspended sentence today for corruption.

The only reason the Frogs have prospered is because us and the Yanks bailed them out after we had saved their sorry asses during WW2.

Ungrateful s

Germany too, come to that.

[Dedworth]

I saw my French neighbour creosoting his fence for the 2nd time in as many days.

"Hey Francois, you only need to use that Cuprinol once you know mate!" I shouted.

"Ah, mon ami, it is in my nature to retreat immediately" he replied.

[Terpe]

I saw my French neighbour creosoting his fence for the 2nd time in as many days.

"Hey Francois, you only need to use that Cuprinol once you know mate!" I shouted.

"Ah, mon ami, it is in my nature to retreat immediately" he replied.

[RickyR]

I just can't get over the childish and unprofessional attitudes of these senior politicians.

If corporate managers or professionals were so outspoken and childresh like that they'd be fired pretty quickly.