Brexit Risk To UK's Top Credit Rating - S&P

[abc]

The UK would likely lose its coveted 'AAA' credit rating should the country vote to leave the EU, an agency has warned.

Moritz Kraemer, the agency’s (Standard and Poor's) chief sovereign rating officer, said Britain would be stripped of its top AAA rating with a one-notch downgrade if it voted to leave the bloc, and possibly double that if relations between Britain and Brussels soured.

It also warned on the prospect of such a result triggering new calls for a vote on Scottish independence, give the SNP Government's fierce opposition to a UK withdrawal from Brussels.

A rating is created to determine the credit worthiness of a country or business - with those at the top seen as of little or no risk of default.

For anyone who does not know, a downgrade means pound is likely to weaken, which makes our imports more expensive. This means increased prices. In theory, a lower credit rating could also make it more expensive for the UK to borrow money (and we borrow a lot!).

http://news.sky.com/story/1578498/brexit-risk-to-uks-top-credit-rating-s-and-p

http://www.telegraph.co.uk/finance/economics/11963978/Britains-credit-rating-could-be-cut-by-two-notches-if-it-leaves-EU-warns-SandP.html

[AgnesIO]

Not good. A weaker pound would hurt me quite significantly.

Who'd have thought it; leaving the EU is not entirely beneficial to the UK...

[abc]

Not good. A weaker pound would hurt me quite significantly.

And all importers including me. So just imagine how many businesses will be affected by this. How many job losses it could lead to.

Sadly people like Dan fail to see any of this.

[-:Undertaker:-]

From the same companies and kind of elites who were claiming Greece had a top notch credit rating prior to the 2008 recession. Lol.
(https://en.wikipedia.org/wiki/Greek_government-debt_crisis_timeline#2009)
Besides, even if it did weaken the pound sterling (what has EU exit got to do with the Bank of England's monetary policy by the way?) (http://www.ibtimes.co.uk/bank-england-keeps-interest-rate-0-5-375bn-quantitative-easing-programme-unchanged-1510096) it still doesn't detract from the fact that there's some things worth more than money or hedge funds, one of which is being an independent and sovereign country where my vote actually counts for something at a General Election and in parliament. The democratic argument trumps the economic one, even if you believe an EU exit would carry some small risks. I see no reason for any worry regardless, as Article 50 of the Lisbon Treaty and bilateral agreements between the UK and EU would follow after an exit vote. A vote to leave the EU does not mean the next day we are ejected and shut out from European trade, there's a sensible process that follows.

Oh and by the way, a weak pound sterling actually isn't a bad thing. It'd help our exports.

[AgnesIO]

Oh and by the way, a weak pound sterling actually isn't a bad thing. It'd help our exports.

A weak pound sucks if you spend a lot of time in other countries but you primary currency is a pound.

[-:Undertaker:-]

A weak pound sucks if you spend a lot of time in other countries but you primary currency is a pound.

Indeed, it all depends on circumstances. Currencies rise and fall all the time.

It was only over the last parliament that the government and Bank of England were intentionally weakening the GBP with QE so you know........

[The Don]

And all importers including me. So just imagine how many businesses will be affected by this. How many job losses it could lead to.

Sadly people like Dan fail to see any of this.

blinded by nationalism

[-:Undertaker:-]

I love how anti-independence people like @The Don (http://www.habboxforum.com/member.php?u=9475); call their opponents like me all sorts of names just because I want my country to make it's own laws.

That's about the only soundbite they can muster. Well, that and "you'll all lose ur jerbs if u vote the rong way" pur-leaseeeeee.

[The Don]

I love how anti-independence people like @The Don (http://www.habboxforum.com/member.php?u=9475); call their opponents like me all sorts of names just because I want my country to make it's own laws.

That's about the only soundbite they can muster. Well, that and "you'll all lose ur jerbs if u vote the rong way" pur-leaseeeeee.

Lol! You literally wrote a whole essay about how you believe in nationalism and that its a good thing http://www.habboxforum.com/showthread.php?t=825309

[-:Undertaker:-]

Lol! You literally wrote a whole essay about how you believe in nationalism and that its a good thing http://www.habboxforum.com/showthread.php?t=825309

Well yes, I am a 'nationalist' (going by Orwell's definition I prefer patriot) in the sense that I want what is best for Britain. Yes... how dreadful of me!

It is funny though that you can't seem to fathom that I might actually disagree with the European project for a variety of reasons other than sole love of my country, although that of course will always be my underlying motive for supporting/not supporting a political goal. One reason could be that I think economically this country should be reaching out to the far-east and signing FTA's with growing Commonwealth powers, something EU membership prevents us from doing. Another could be to avert war/civil strife in Europe as the EU project has turned European peoples against one another (see Germany and Greece) so much so that I fear it will end in a Yugoslavia type scenario. It could be the disasterous currency which was founded for political and not economic reasons, ruining millions of lives. It could be the costs. It could be the corruption. It could be the democratic argument, ie how the EU just ignores referendums and goes ahead anyway. It could be the absurd agricultural policies which give us higher food prices and cripple African farmers. It could be the insane energy policy which is make Britain and Europe as a whole less competitive economically at a critical time. One other could be the total mismanagement of the borders of Europe which is causing a humanitarian crisis on the continent. Or the geopolitical struggle with Russia in the East taking us back 20 years the Cold War.

I could go on and on, but you ought to understand my objections simply aren't "I love the Queen and dislike the garlic breathed French."

[abc]

I want what is best for Britain.

No, you just want us to be fully independent. That is not the same as wanting "what is best for Britain".

You seem to be under the deluded idea that when we leave the EU it will be bright and sunny and everything will be amazing and everyone will be employed. No.

[The Don]

No, you just want us to be fully independent. That is not the same as wanting "what is best for Britain".

You seem to be under the deluded idea that when we leave the EU it will be bright and sunny and everything will be amazing and everyone will be employed. No.

hence the "blinded by nationalism" comment ;)

[-:Undertaker:-]

No, you just want us to be fully independent. That is not the same as wanting "what is best for Britain".

That is correct yes, the British constitution has been framed upon that premise for the last few hundred years that parliament is sovereign and that a government can undo any changes the last government has made. It's credited with avoiding us constant revolutions.

In addition to this, the end aim of the European project is a stated political union... meaning a single sovereign superstate. That would mean the complete end of British sovereignty and independence so your false choice of partial independence (which is insulting anyway to the abilities of this country to run her own affairs) is exactly that, false. The choice is between a federal European superstate or an independent sovereign British state, which is it? I've made my choice.


You seem to be under the deluded idea that when we leave the EU it will be bright and sunny and everything will be amazing and everyone will be employed. No.

Not at all, given the poor quality of politicians we have had it is a toss up on what follows afterwards... but I do not see how your lack of confidence and optimism in this country then leads you to the conclusion that we'd be better off run by failed (and unelected) politicians from the Low Countries.