UK credit rating downgraded

[Louisa]

http://www.bbc.co.uk/news/business-36644934

More horrific news.

Louisa.

[Calsug]

The markets took another hammering today, if anyone wants a vague positive - Foxtons the forums favourite estate agent got a beating too

Jokes aside all banks, estate agents and property developers, building firms etc... Were down heavily. Pound will almost certainly continue to weaken as seems EU are starting to talk tough

[WorkingMummy]

...continuing to talk tough. The EU is saying what the EU always said.

Leave didn't listen. Half the voters of this country didn't listen.

Or didn't care.

[midivydale]

Yes, a bleak day

[LondonMix]

Yep. They are just doing what they said all along.

WorkingMummy Wrote:

-------------------------------------------------------

> ...continuing to talk tough. The EU is saying

> what the EU always said.

>

> Leave didn't listen. Half the voters of this

> country didn't listen.

>

> Or didn't care.

[pebs]

Yes - that's exactly what was going to happen but you could not be bothered to listen

[JoeLeg]

Sorry, who is 'you' exactly, and what weren't they listening about?

[Salsaboy]

Anybody know when the plague of locusts are due to arrive?

Lighten up people. The buses are still running, shops have food, the toilet still works. Remember the blitz! We made it through that, we'll get through this.

[Lordship 516]

Salsaboy Wrote:

-------------------------------------------------------

> Anybody know when the plague of locusts are due to

> arrive?

>

> Lighten up people. The buses are still running,

> shops have food, the toilet still works. Remember

> the blitz! We made it through that, we'll get

> through this.

The blitz was unavoidable & the fight was honourable.

Brexit is avoidable & dishonourable.

It not so great for many people who will lose their jobs & pensions..!

[Blah Blah]

We spent the evening with a couple of friends, one of whom is a reporter for Reuters focussed on the city, finance and markets. He had nothing good to say. It was a truly awful day on the 250 index where most British companies sit. The reasurances given by both Osborne and Carney ths morning did nothing to prevent the carnage.

[uncleglen]

So our credit rating is now on a par with France, Belgium, New Zealand, China, Abu Dhabi, Austria, Finland, Kuwait Saudi.....the end is nigh

[miga]

Relax everyone, we've got back control.

[Otta]

When you borrow like we do it is kind of significant UG.

[JoeLeg]

uncleglen Wrote:

-------------------------------------------------------

> So our credit rating is now on a par with France,

> Belgium, New Zealand, China, Abu Dhabi, Austria,

> Finland, Kuwait Saudi.....the end is nigh

The company I work for is on the brink of expanding, and thus being able to bring more jobs to our area and generally help it prosper.

But yesterday the bank called the owners in for a meeting to tell them that - as a direct result of Brexit and the downgrading of credit ratings - it was no longer guaranteed that we would be able to borrow what we hoped for.

For us it looks like we will still be able to scrap together enough and run it on a shoestring at first (using good old British ingenuity!), but I can imagine many others have had their plans shattered altogether. Even we still aren't definite that we will get the reduced deal.

So yes, it had already had an effect on small businesses.

[Earl Aelfheah]

One of the things which really does piss me off, is the flippant response by many in the leave camp to the financial fall out. It effects real people, in real life. I've already know people who have been told to expect job losses at their firms. It looks likely that there will be a recession, which will mean that kids leaving school or college in the next few years may struggle to break in to the job market. That can have an impact over your whole career and lifetime earning potential. It's no small thing.

[Loz]

Now Juncker has instructed EU official to not have any informal talks with the UK until A50 is triggered.

Merkel has said that negotiations would not start, either formally or informally, until the UK formally initiated A50. Plus, she has said that any access to the single market would require the UK to accept free movement.

As one EU diplomat said. ?The moment you push the button you?re in a stupidly weak negotiating position.?

Brilliant, Boris. Just brilliant.

[????]

Italy is looking in trouble and will be the next big issue for the EU - it's sad but I'm almost hoping it happens so we aren't in the crap so much; which is very mean spirited and selfish . There is some truth that the only real way to solve the EU, or certainly Eurozone's, issues now is proper shared sovereignty - but not sure if they are up for that...

[Salsaboy]

I reckon France will be the next ones to leave. Was over there last week and talking to some locals they all hate the EU and these were farming people.

[Calsug]

France won't leave - they won't be stupid enough to hold a referendum on it. Anti EU sentiment is at about 72%...

[Louisa]

If France held a referendum tomorrow, they would overwhelmingly be gone from the EU, with a much higher percentage of leave voters than we gave here. Hollande would never be stupid enough to give them that vote. Although fruit loops such as Le Pen may now feel emboldened.

Louisa.