Britain loses AAA rating

News > World

Published: 23 Feb 2013 at 04.43
Online news: World

Moody's Investors Service has stripped Britain of its triple-A debt rating, saying government debt is still mounting and that growth is too weak to reverse the trend before 2016.

"Despite considerable structural economic strengths, the UK's economic growth will remain sluggish over the next few years," Moody's has said.

In an expected rebuff to the Cameron government's hopes that sharp spending cuts would both reduce its deficit and give growth a boost, the rating agency cut Britain's grade by one notch to Aa1.

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onlyasking
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Discussion 5 : 24 Feb 2013 at 17.155
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I feel sorry for the hardworking people in the UK, US and EU as they do their bit to keep the economy going, but there are just too many too lazy to work and too many too ignorant to care.
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Worzel
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Discussion 4 : 24 Feb 2013 at 16.044
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If the pound does weaken sharply to parity with the Euro there will be an increase in foreigners buying UK assets, property and classic cars etc.

Petrol prices as will prices for all imports will suddenly increase.

The goes back to the battle of Waterloo.
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patchar
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Discussion 3 : 23 Feb 2013 at 20.183
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so the truth came out into open. UK economy sunk. blame yourself not other people. and start acting not as rich country but poor economy. play real don't pretend to belong to the clubs.>>>>>
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mutley
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Discussion 2 : 23 Feb 2013 at 12.152
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Exactly what I was going to say Ian but I predict it won't happen.
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Ian
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Discussion 1 : 23 Feb 2013 at 09.431
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Get rid of all the parasites leeching on our social services, then the illegal immigrants and false asylum seekers, stop donating money to countries that need to sort out their own problems.
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Britain loses AAA rating | Bangkok Post: news