France's finance minister Francois Baroin: 'It's better to be French than British'. He believes the British credit ratings should be lowered ahead of France as France is supposedly in a better shape. What do you believe? Is it just gamesmanship?
In other news, France is believed to be heading towards a recession according to the INSEE. It will most likely affect Sarkozy's re-election bid.
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I'd take a CCC credit rating if it meant I could be British rather than French
Wouldn't you prefer DDD?
http://tradingevents.blogspot.com/
Neither are looking too hot right now to be honest. I'd rather default than be British.
DDD looks amazing from where I sit most evenings.
better to be american imo
Briton can print, France can't. Much better to be British.
[quote=DarkPool]France's finance minister Francois Baroin: 'It's better to be French than British'. He believes the British credit ratings should be lowered ahead of France as France is supposedly in a better shape. What do you believe? Is it just gamesmanship?
In other news, France is believed to be heading towards a recession according to the INSEE. It will most likely affect Sarkozy's re-election bid.
http://tradingevents.blogspot.com/2011/12/better-to-be-french-than-brit…]
Monsieur Baroin is either stupid, lying or in a state of denial. UK has recapitalized their banks, EU has not. UK (like the US) can coordinate fiscal and monetary policy in unison, EU cannot. EU debt is more risky than UK debt(bond markets should reflect this right now, correct?). UK policy makers are smarter than EU policy makers (as proven by Mons. Baroin's inept comment).
Actually, I might be wrong. I just saw this:
http://www.zerohedge.com/news/psssst-france-here-why-you-may-want-cool-…
The UK has recapped its banking system, correct?
I think this is a case of people living in glass houses, throwing stones like there's no tomorrow. For all the guys saying the UK is in a much better situation, just take a look at how quickly they went from trying to tighten to starting another round of QE. The UK is flying blind like everybody else, they're just less constrained in doing so than their European counterparts are.
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