Chris28 wrote:
Always wondered why a company that is interested in making profits (e.g. Moody's, Standard & Poor) is allowed to be in a position to make this sort of decision/announcement? And why their view makes such a difference?
The UK's rating should be way less. It has only held up because we have had a history of getting out of messes, the government talked a good story when they came in, the government and Bank were given the benefit of the doubt and as everywhere else looked dodgy sentiment said the UK was a relative safe haven (purely for historic reasons). As reality gradually outs - that despite efforts things are getting worse at an alarming rate the markets have to face facts. When they do they will be brutal to the UK and we'll all be in the brown stuff. If you are under 35 emigrate now.
