Loss Of Ratings In Europe

As we can see from the front of the Guardian there's bad news in the European economy... just for a change.

It says: "France loses top credit rating as Friday 13th shakes Europe".

Yep, France's credit rating was AAA and now it's comme ci, comme ca.

What this means is, it is now officially a worse idea to lend France money than it was last week. I don't know why anyone thought it was a good idea to lend to them in the first place. A country that takes a four-hour dinnerhour doesn't seem to understand maths, let alone the work ethic.

France isn't the only country to suffer. A string of eurozone countries have had their credit ratings downgraded in a mass blitz by agency "Standard and Poor's".

It's a bit harsh having the word "poor" in the title of the agency that makes these judgements. It's rubbing their noses in it. It's like rebranding the Body Mass Index as the "Normal and Fatty-bum-bum's" scale.

France and Austria both now hold AA+ ratings, Spain will move down to an A rating, Slovakia goes to A, as does Malta and Slovenia finds itself on A+.

The scale basically goes AAA, AA and A. It sounds like two Scousers having a row.

There's a rung below too. Italy, formerly an A-rated country, holds a BBB+, Cyprus goes to BB+ and Portugal moves to BB.

So in full we have AAA, AA+, AA, A+, A, BBB+, BBB, BB+, BB, B+ and B. Someone tell these people there are a lot of letters left, you're not going to run out.

It wasn't that long ago that a senior French figure said that Britain should be downgraded before France because we have "as much debt, more inflation, less growth than us and…credit is slumping".

Yes France, we have inflation, we have little growth and we have slumping credit, but I'll tell you what else we have... a AAA credit rating.

Oh, and we have the Olympics!

Basically you shouldn't start picking on us to make your economy look better. It clearly hasn't worked, as they have been downgraded, and they're the ones who'll be left eating crow. And I bet they take four hours to do it.

>Read the source story


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