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UK more at risk than other major economies of losing top credit rating
JICWyllie
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0
11-11-2009 6:40 AM
29 views
tags:
1-credit ratings
,
2-decrease
,
3-risks
,
4-uk
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3b8c683d-4a76-4d2f-9de9-0c3acbb0d1be/4AFD5DB3-520C-452A-88CF-8AB766972937/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html" href="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html"><P> The warning, which coincided with news that the biggest devaluation in the pound since the 1930s has failed to stem the rising trade deficit, is the latest blow for the UK's economic credibility. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html"><P> David Riley, Fitch's co-head of global sovereign ratings, said that<STRONG> <A href="http://www.telegraph.co.uk/news/newstopics/politics/6512338/Skint-Britains-financial-crisis-is-much-much-worse-than-that.html">record levels of Government debt</A> </STRONG>meant that unless the next Government makes serious efforts to bring spending under control and reduce that debt, Britain could lose its AAA rating. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html">In spite of the fall in sterling, the trade deficit widened in September to the biggest level since January, increasing from £6.1bn to £7.2bn, according to the Office for National Statistics. The increase was partly due to a rise in car imports, as the scrappage scheme encouraged households to spend and pushed car imports up by 30pc</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html">"If there was another significant fiscal stimulus package in the UK, then UK rating would be at risk." </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/economics/6539671/UK-more-at-risk-than-other-major-economies-of-losing-top-credit-rating.html">although exports rose by 3.9pc, imports increased by 7.5pc. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4AFD5DB3-520C-452A-88CF-8AB766972937/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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