Full Text Of S&P Warning On FrAAAnce

Tyler Durden's picture

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nope-1004's picture

No more Vive a la bullshitting?


He_Who Carried The Sun's picture

Yawn! S&P, you hear me?   Y*A*W*N !

ratso's picture

Classic overreach by S&P after having been asleep at the switch for years.


Hard1's picture

And after being asleep for years they place the LONG TERM ratings of over indebted countries on CreditWatch, but with the condition that a short term policy response can still change S&P's opinion  (I cannot think of any politically viable apropriate policy response that may change my view on Europe's debt)  Anyway the market knows best. Just as a sample:

France AAA      5 yr CDS 179

Brasil  BBB+     5yr CDS 147


He_Who Carried The Sun's picture

The funney thing is, if they do Eurobonds they WILL BE downgraded and if they DO NOT Eurobonds they will be downgraded as well?! I opt for the second outcome... ;-)

blu's picture

Shorter S&P: Sorry chumps but people are watching now. Get your act together or we throw you under the bus as an example to the others.

slaughterer's picture

Europe-wide fiscal integration and treaty changes are not going to solve the problems S&P points out here.   The EuroConTricks will no longer delay the inevitable downgrade after Dec 8-9.  Ugly weekend to remain long coming up.   

distopiandreamboy's picture

ECB should hold rates steady and then rise from the swath of downgrades with the hum of Brent crude-oiled printing presses.

spdrdr's picture

La France est dans la merde.

John Law Lives's picture

I will believe there is a global recovery in place when EU member states and the US and Japan and China etc. collectively announce the steady and sustainable creation of millions of good paying new jobs whilst collecting healthy tax revenue streams whilst managing deficit spending in a prudent fashion.  Until then, this talk of "recovery" based upon Merkel + Sarkozy meetings is pure BS.

LeBalance's picture

S&P: "We certainly mean business about this MF Global co-mingling affair. Yes we have a big stick and we are going to use it. Sometime. We ... will ... act.  When we act.  Shortly.  After the summit.  Did we say the 8th and 9th? Shortly.  Next time it happens we will be there to enforce the rules, next time you can mark our words.  Mark them, I say."

S&P: "Mommy? Can I have a popsicle with my hookers and blow?"

Ancona's picture

Tomorrows action should be fun to watch in Europe. Almost as fun as it is to watch the manipulations in our own markets.

Village Smithy's picture

Can you imagine the string of profanities coming from Sarkozy's mouth right now. "Deux notches!" @@$*^%$?*#**&%%##.

PulauHantu29's picture

Belligerent Sarkozy is too busy invading Libya and fighting for the Next Nobel Peace Prize to be bothered with trivial things like the French people.

Grand Supercycle's picture

SP500 monthly chart remains bearish and USDX weekly remains bullish, so it’s only a matter of time until the market makes its move.