Spain's credit rating downgraded.

Moody's the rating agency has downgraded Spain's rating 2 days after Standard and Poor did the same thing, citing no realistic "credit resolution" had been put forward.

The Telegraph

The Lone Ranger wrote:Moody's the rating agency has downgraded Spain's rating 2 days after Standard and Poor did the same thing, citing no realistic "credit resolution" had been put forward.

The Telegraph

link not working cam. does it affect us?

cunningham wrote:

The Lone Ranger wrote:Moody's the rating agency has downgraded Spain's rating 2 days after Standard and Poor did the same thing, citing no realistic "credit resolution" had been put forward.

The Telegraph

link not working cam. does it affect us?

Nah, just makes it more expensive for Spain to borrow money H...

If it continues it will affect the UK. British banks have a big exposure to Spanish sovereign debt so the less creditworthy Spain becomes, the more at risk these loans are perceived to be. This in turn will raise the interest asked for U.K. bonds and will lead to higher repayments. Joe Bloggs will end up footing the bill (again!). The world is no longer being run by governments just by banks, central banks and the massive hedge funds. Foreign banks and in particular the ECB are dictating what policies should be implemented in individual countries in order to satisfy "market needs". They are saying "reign in spending, raise taxes", none of which seems to be making any difference. If I could afford it, I would go and stand shoulder to shoulder with the Greeks on the streets of Athens. If they can manage to bring down that government then all bets are off the table

3rdforum wrote:If it continues it will affect the UK. British banks have a big exposure to Spanish sovereign debt so the less creditworthy Spain becomes, the more at risk these loans are perceived to be. This in turn will raise the interest asked for U.K. bonds and will lead to higher repayments. Joe Bloggs will end up footing the bill (again!). The world is no longer being run by governments just by banks, central banks and the massive hedge funds. Foreign banks and in particular the ECB are dictating what policies should be implemented in individual countries in order to satisfy "market needs". They are saying "reign in spending, raise taxes", none of which seems to be making any difference. If I could afford it, I would go and stand shoulder to shoulder with the Greeks on the streets of Athens. If they can manage to bring down that government then all bets are off the table

bloody hell im sorry i asked.

Irish alright now are they 3F?

If we had done like the Icelanders, we would never have been in trouble in the first place. They refused to pay for the mistakes of the private banks. Here, we were forced to take the bailout by the ECB in order to ( and I'm quoting directly the ECB president, Claude Trichet) to " save the banks at all costs". The result of which, Ireland had to DOUBLE its national debt.

Sorry for ranting Vince. The answer to your question is that our economy is growing a 3 times the EU average but that doesn't tell the whole picture. Its all export led. The domestic economy is in the bum syrup house. Unemployment is at 14%. We had 6 guys working for us 18 months ago. Now it's just my brother in law and myself and things aren't looking good at the moment. The government has taken 20 billion out of the economy in the last 3 years ( tax hikes and spending cuts) and another 10 billion to go in the next 2 years. To put it in context, thats the same as the UK taking 350 BILLION out of your economy over the same time. We're the biggest dickheads imaginable over here for lying down and taking it. If I could sell my house, I'd emigrate but the chances of getting a buyer in the foreseeable future is feck all!
Rant over!

Sorry I asked now too........

Lets put some windows in, I blame the imigrants (again) All these hand outs, where do you think the money comes from, Taxes, and if they dont have enough, Somebody in a little room somewhere thinks up something else to tax us on, Early tonight i took Janet to see her sister in hospital, I show my face, see if there anything to eat on the bedside table, then wander off to people watch in cafe area, So i look around and there is the transport office, For them that cant get to a busstop, Or afford a taxi, Well the queue looks like a mass exidos from sunny climes, People that can walk, some not even patients, All getting a free ride home, 7pm shutter went down, and the lass that runs the place came and sat near me while waiting for oh to pick her up, I said "do you get many customers that really need help to get home" "No most look at the queue and make their own way home" That lot just take the piss, we get through more drivers because they cant stand what go's on, I said why dont you report them, She looked at me like i said nuke them, and said "What and loose my job, Nah i dosent work like that. janet came down, i said sit and jaw a while, Look around, What she said, We are the only ones from this country, Were doomed i tell you,

Perfectspecimen wrote:Sorry I asked now too........

ill drink to that.

All too sad and all too common Reg.

Sorry guys, but it make my blood boil. I've had to lay off 6 guys. All these had families. I'm off to Basildon council to ask for a site

Underdog wrote:Lets put some windows in, I blame the imigrants (again) All these hand outs, where do you think the money comes from, Taxes, and if they dont have enough, Somebody in a little room somewhere thinks up something else to tax us on, Early tonight i took Janet to see her sister in hospital, I show my face, see if there anything to eat on the bedside table, then wander off to people watch in cafe area, So i look around and there is the transport office, For them that cant get to a busstop, Or afford a taxi, Well the queue looks like a mass exidos from sunny climes, People that can walk, some not even patients, All getting a free ride home, 7pm shutter went down, and the lass that runs the place came and sat near me while waiting for oh to pick her up, I said "do you get many customers that really need help to get home" "No most look at the queue and make their own way home" That lot just take the piss, we get through more drivers because they cant stand what go's on, I said why dont you report them, She looked at me like i said nuke them, and said "What and loose my job, Nah i dosent work like that. janet came down, i said sit and jaw a while, Look around, What she said, We are the only ones from this country, Were doomed i tell you,

all doomed . all this reading has tired me out, so its goodnight from him.

Underdog wrote:Lets put some windows in, I blame the imigrants (again) All these hand outs, where do you think the money comes from, Taxes, and if they dont have enough, Somebody in a little room somewhere thinks up something else to tax us on, Early tonight i took Janet to see her sister in hospital, I show my face, see if there anything to eat on the bedside table, then wander off to people watch in cafe area, So i look around and there is the transport office, For them that cant get to a busstop, Or afford a taxi, Well the queue looks like a mass exidos from sunny climes, People that can walk, some not even patients, All getting a free ride home, 7pm shutter went down, and the lass that runs the place came and sat near me while waiting for oh to pick her up, I said "do you get many customers that really need help to get home" "No most look at the queue and make their own way home" That lot just take the piss, we get through more drivers because they cant stand what go's on, I said why dont you report them, She looked at me like i said nuke them, and said "What and loose my job, Nah i dosent work like that. janet came down, i said sit and jaw a while, Look around, What she said, We are the only ones from this country, Were doomed i tell you,

This idea that you can claim dole in any EU country is blox. You can hardly blame the Romanians etc if they can get what to them is a months wages drawing the dole in the UK ( or Ireland). That law should be gotten rid of and you can only draw the dole in your own country. It wouldn't be long before the spongers fecked off home!

3rdforum wrote:

Underdog wrote:Lets put some windows in, I blame the imigrants (again) All these hand outs, where do you think the money comes from, Taxes, and if they dont have enough, Somebody in a little room somewhere thinks up something else to tax us on, Early tonight i took Janet to see her sister in hospital, I show my face, see if there anything to eat on the bedside table, then wander off to people watch in cafe area, So i look around and there is the transport office, For them that cant get to a busstop, Or afford a taxi, Well the queue looks like a mass exidos from sunny climes, People that can walk, some not even patients, All getting a free ride home, 7pm shutter went down, and the lass that runs the place came and sat near me while waiting for oh to pick her up, I said "do you get many customers that really need help to get home" "No most look at the queue and make their own way home" That lot just take the piss, we get through more drivers because they cant stand what go's on, I said why dont you report them, She looked at me like i said nuke them, and said "What and loose my job, Nah i dosent work like that. janet came down, i said sit and jaw a while, Look around, What she said, We are the only ones from this country, Were doomed i tell you,

This idea that you can claim dole in any EU country is blox. You can hardly blame the Romanians etc if they can get what to them is a months wages drawing the dole in the UK ( or Ireland). That law should be gotten rid of and you can only draw the dole in your own country. It wouldn't be long before the spongers fucked off home!

Right I'm off to have a bath, warm my feet up, those Dale Farm peeps had Irish accents. Goodnight.

Night Vince, I'm off as well. All that ranting has worn me out

Its like being on a out of control train, You know its going to crash, but when ?, My eldest lad drives a taxi, A proper one, Not a vectra brown face one, A gupta that seems to know an awful lot about my business, Collard him in the station, Toby's not one for talking to them but he was captured, thinking he was going to ask to buy the cab, like they do 3 times a day, he said " tell your dad i will buy his student houses off him, and give him cash Well i know anything above £9k is illegal, Where do they get the cash from, If they have all this money why do they drive a cab? , Oh, His wife works for the inland revenue too, Somebody told me they have special priveliges because of their religion, They can get any amount of money, intrest free, its put to a council, and if its a money earner they go for it, Property rental is on the up according to all the bright sparks, I would love to set it up, and when he shows up with a bag full of cash, the police jump out from behind the curtains, Whats the chances i get arrested for racial incitement or something, Toby said do it dad, get yourself off, Your only delaying the inevetable, Because one day he will ask to buy my cab, and i will sell it to him,
Now thats not what i had planned,

There's some really interesting posts on here at the moment, now who can we blame for all the other rubbish must be those that are on holiday :Crazy:

Gypsy wrote:There's some really interesting posts on here at the moment, now who can we blame for all the other rubbish must be those that are on holiday

I thought that as well

It's because I'm back, everyone is behaving

Cruella de Vil wrote:It's because I'm back, everyone is behaving

Yep, You scared me,