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Here Are The First Official Responses By French Politicians To S&P Downgrade

Tyler Durden's picture


Just like in the US, where we had our very own Treasury Secretary telling us there is "no risk" the US would get downgraded, about 3 months before America did in fact get downgraded, the cognitive dissonance between reality and fantasy is fully exposed today, this time in Europe. And whereas patriotic chauvinism has its good and bad sides, listening to politicians explain away how the impossible has just happened is always very amusing. Especially when translated by Google. Such as in this case, where we have grabbed the following article from Les Echos and dumped it into the modern version of the babel fish.

Perte du AAA de la France  : les premières réactions


Overview of the main reactions of political leaders in the decision by Standard & Poor's to degrade a notch note of the long-term debt of France, from AAA to AA +.


Jean-François Roubaud, president of the CGPME: "It is clear that this is not a positive sign and it is not what will improve the morale of our business leaders and the French economy." "Obviously, we will be even more pending regarding investment, hiring, etc.. ". "What I fear, too, is a somewhat greater restriction of credit in the coming months," he said, hoping that "interest rates already take into account for much of this degradation 'expected for several weeks. Patterns needed "tangible signs of improvement" and were already receiving an improvement in their order books in three months, but "the loss of triple A is not going in the right direction."


Jean-Marie Le Guen , PS deputy of Paris: "This is first terrible news for France, our country will pay very heavily the consequences of this decision." "It's a triple setback for Nicolas Sarkozy: failure of his economic policy for 5 years aa led France in this situation," "failure of crisis management" and "social failure". "We are not equal before the crisis," "France is particularly targeted because it has increased its debt by a reckless fiscal laxity that we have repeatedly denounced" (on BFM-TV).


Eva Joly, the EELV candidate for president: "The deterioration in the rating of France reflects the failure of government policy and the failure of the policies of Nicolas Sarkozy, his tax breaks, and shows that policy austerity was not requested by the rating agencies in this way, was ineffective. " "More than ever, it is time to redress the balance, the austerity it is useless, as seen in Greece" because then "the country is blocked and the economy deteriorates." Eva Joly has also criticized the "unnecessary measures and performance-against" austerity policies that "create evil." For her, Nicolas Sarkozy "has compounded the crisis that was already there in 2007, it's time he chose to introduce the tax shield. Its policy of gifts contributed to worsen the deficit. " Under these conditions, it held that the presidential campaign was a "great uncertainty" and "difficult to anticipate."


Jean-Luc Mélenchon, candidate of the Left Front: "The rating agency Standard & Poors said the war of finance against France. We must resist, "wrote presidential candidate in a statement. "The Central Bank should announce immediately that it will pay to France a very low rate. Otherwise it must suspend payment to the budget of the French EU and cover with next slice a forced loan of French banks that have just been force-fed by the ECB. "


Christine Boutin, candidate of the Christian Democratic Party: "Nicolas Sarkozy is now the wall, it is not the time for scoops." "This morning, everyone struggled to register a same-sex marriage in the project of Nicolas Sarkozy, and now we lose the Triple A. .. I note the shift in the urgency of decisions. "


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Fri, 01/13/2012 - 13:44 | 2062225 CClarity
CClarity's picture

"Ce la vie" or "merde"?

Fri, 01/13/2012 - 13:49 | 2062251 BandGap
BandGap's picture

C'est la vie.

Like they didn't see this shit coming.

Fri, 01/13/2012 - 13:51 | 2062262 Crisismode
Crisismode's picture

C'est la Merde


This is the trigger for a French-German breakup and NASTY divorce.

Fri, 01/13/2012 - 13:54 | 2062281 cossack55
cossack55's picture

I thought that happened in 39' and settled out of court in 40'.

Fri, 01/13/2012 - 14:02 | 2062309 Ahmeexnal
Ahmeexnal's picture

Banks in the eurozone will close Mon-Wed.
riots -> martial law -> end of "democracy"

Fri, 01/13/2012 - 14:18 | 2062410 Badabing
Badabing's picture

The significance of Friday the 13th

On Friday, October 13, 1307 Templar Grand Master Jacques de Molay and several Templar Knights were arrested by King Phillip of France. Most were eventually tortured to death.

The Templar’s where the international bankers of the time, some believe they still are!

Fri, 01/13/2012 - 14:30 | 2062459 Manthong
Fri, 01/13/2012 - 14:45 | 2062513 Fred Garvin
Fred Garvin's picture

and video of the Italian reaction...3:50 into the clip

Fri, 01/13/2012 - 17:28 | 2063220 Fortunate Fool
Fortunate Fool's picture

This is where 30 years of incometent politicians bring a country. Notice that the two times French debt decreased as a % of GDP was:

- during a socialist government (Jospin)

- during the de Villepin government 

Fri, 01/13/2012 - 14:59 | 2062573 Ahmeexnal
Ahmeexnal's picture

The Templar knights were destroyed by another less known order.

This order has been around for over 800 years and has dictated major global events.

It is still around, and has been very active since 9/11.

I present to you the Imperial Teutonic World Order, the true oligarchs who run the world. The Rothscilds are mere employees of the Teutonic Order:


The Teutonic Order of Saint Marys Hospital in Jerusalem - Deutscher Orden - German Order, was formally revived back into a Chivalric Order of Knighthoood, thus making a seperate Chivalric Arm of the Teutonic Order from the present Clerical Papal Arm of the Order in Rome, By His Imperial and Royal Highness Prince Karl Friedrich of Germany, on Christmas Day in the year of Our Lord Two Thousand and One, by Imperial Decree. His Imperial Highness, assumed the Grand Mastership of The Imperial Teutonic Order - Deutscher Orden, on the 1st day of Janaury, 2002, thus becoming the 60th Chivalric Hochmeister of Teutonic Order of Saint Marys Hospital in Jerusalem - Deutscher Orden.


As a sidenote, it is incredible that 99.999% of germans do NOT know they are serfs and that they are run by an imperial elite.

Fri, 01/13/2012 - 15:48 | 2062793 DoChenRollingBearing
DoChenRollingBearing's picture

Do you have any other references on these guys other the dot-com?

Fri, 01/13/2012 - 16:26 | 2062849 Ahmeexnal
Ahmeexnal's picture

They are on wikipedia as the TEUTONIC KNIGHS:

Note the infamous history they carry.
They were expelled and outlawed from numerous countries throughout the ages.
Here's the official german site relating to the religious arm:

It all makes sense now. Nigel Farage has reported seeing the German Imperial coat of arms during official europarliament ceremonies:

Fri, 01/13/2012 - 17:44 | 2063298 ElvisDog
ElvisDog's picture

Hey, how do I get an application to join the Imperial Teutonic World Order? It sounds like an organization I want to be a part of? Is there a secret handshake?

Fri, 01/13/2012 - 14:05 | 2062312 hedgeless_horseman
hedgeless_horseman's picture



...The First Official Responses By French Politicians To S&P Downgrade...

"We surrender."

Fri, 01/13/2012 - 14:09 | 2062347 Azannoth
Azannoth's picture

The French are standing on the Edge of a Cliff and S&P just said 'jump', will they oblige? Seems so..

Fri, 01/13/2012 - 14:11 | 2062362 ParkAveFlasher
ParkAveFlasher's picture

"We surrender."


+10 thanks for making me have a scene here at work

Fri, 01/13/2012 - 14:21 | 2062430 navy62802
navy62802's picture

Not good enough ...

Fri, 01/13/2012 - 16:02 | 2062850 Dave Thomas
Dave Thomas's picture

We'll run away!

Fri, 01/13/2012 - 15:04 | 2062581 francis_sawyer
francis_sawyer's picture

I'm shocked... SHOCKED to find out there are downgrades going on in this establishment!

Fri, 01/13/2012 - 17:35 | 2063247 Fortunate Fool
Fortunate Fool's picture

Careful what you wish for. It would just take one numbnut to be elected to put the whole system down, including in the US, and by listening to reactions, people there are pissed. Remember that Hitler was elected to get into power... And remember that Le Pen made it to the second round of presidential election in 2002. We're 100 days away from the next presidential election in France and don't under-estimate french people's willingness to take on their government. They've already cut off a king and queen's head. They'll do it again if necessary.

Fri, 01/13/2012 - 15:52 | 2062808 falun bong
falun bong's picture

Actually you would say "c'est de la merde" ("that's some sh*t", or "that's sh*t"). If you said "c'est la merde" you would be implying that it's all the sh*t in the world, which is probably an exaggeration...

Fri, 01/13/2012 - 20:17 | 2063686 Buck Johnson
Buck Johnson's picture

It most certainly is.  They can't keep this facade up much longer, eventually these countries will leave the Euro and the EU and reintroduce their currencies.

Fri, 01/13/2012 - 13:51 | 2062253 Crisismode
Crisismode's picture


Fri, 01/13/2012 - 13:53 | 2062277 cossack55
cossack55's picture

"Ce la vie say the old folks,

Ya know ya just never can tell"

                     John Prine

                Common Sense LP

Fri, 01/13/2012 - 13:55 | 2062287 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Chuck Berry

Duck Walk LP

Fri, 01/13/2012 - 15:00 | 2062583 r101958
r101958's picture

Try some of the new Euro fragrance "Eau de PIIGSty".

Fri, 01/13/2012 - 15:47 | 2062787 DoChenRollingBearing
DoChenRollingBearing's picture

I think that it is now time to add something from France to that fragrance...

Fri, 01/13/2012 - 13:58 | 2062297 B-rock
B-rock's picture

They fart in S&P'S general direction.

Fri, 01/13/2012 - 14:06 | 2062337 pods
pods's picture

Your mother was a hamster, and your father smelt of elderberry!

Fri, 01/13/2012 - 14:24 | 2062437 tinsmith
tinsmith's picture

You do have to agree with at least part of one of the above quotes. It most certainly is NOT "the time for scoops". Well said.

Fri, 01/13/2012 - 23:45 | 2064069 StychoKiller
StychoKiller's picture

Hmm, time for some icecream...

Fri, 01/13/2012 - 15:06 | 2062604 francis_sawyer
francis_sawyer's picture

The RATINGS have been shot!... Round up the usual suspects...

Fri, 01/13/2012 - 14:52 | 2062542 Stu Pedassle
Stu Pedassle's picture

Today's comedy interlude....


Hard to believe that artciles like this are still being published after eleven years.

Fri, 01/13/2012 - 13:44 | 2062227 fonzannoon
fonzannoon's picture

those comments sound a lottle different then our crybabies across the pond. Wow.

Fri, 01/13/2012 - 13:45 | 2062228 kato
kato's picture

"We have the finest wine in Christendom."

Fri, 01/13/2012 - 14:47 | 2062261 Instant Wealth
Instant Wealth's picture

Château Migraine 2012 ?

Fri, 01/13/2012 - 13:52 | 2062267 Dcheeth2
Dcheeth2's picture

Rescued all those years ago, by those fine outstanding Anglo Saxons. Well, Californian grapes in particular, and Anglo Saxon party lovers in London, rescued French wine. 

Fri, 01/13/2012 - 15:51 | 2062805 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 for truth

Fri, 01/13/2012 - 13:45 | 2062229 fonzannoon
fonzannoon's picture

lottle is a word. yup.

Fri, 01/13/2012 - 13:44 | 2062230 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Who's up next?

Fri, 01/13/2012 - 13:48 | 2062245 Vaiman
Vaiman's picture


Fri, 01/13/2012 - 13:57 | 2062292 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I think the cannons get shot across the pond now.

Fri, 01/13/2012 - 14:55 | 2062556 earleflorida
earleflorida's picture

"nulla dies sine linea", par maginot  - oue!

Fri, 01/13/2012 - 14:11 | 2062370 rayduh4life
rayduh4life's picture

Downgrades by the same folks who christined all that MBS shit gold?  Who gives a shyte.  What credibility do they have?  Thought these were just opions anyway

Fri, 01/13/2012 - 13:45 | 2062231 camaro68ss
camaro68ss's picture

Poor FrAAnce. haha



Fri, 01/13/2012 - 14:53 | 2062547 walküre
walküre's picture

Die USD!

Die Rothschild vermin creatures from the deepest bowels of hell.

Fri, 01/13/2012 - 13:45 | 2062233 sabra1
sabra1's picture


Fri, 01/13/2012 - 16:56 | 2063071 lotsoffun
lotsoffun's picture

ta bernanke has something for you too - and you'd be 'prone' to accept it.


Fri, 01/13/2012 - 13:48 | 2062246 Conrad Murray
Conrad Murray's picture

Christine Boutin been smoking some whacky tabacky today.

Fri, 01/13/2012 - 13:53 | 2062273 GeneMarchbanks
GeneMarchbanks's picture

Christian Democrats heart Hungarian Jew(s)...

Fri, 01/13/2012 - 15:21 | 2062678 Shitters_Full
Shitters_Full's picture

These translations reminded me of protesting Alzheimer's patients.,835/

Fri, 01/13/2012 - 15:32 | 2062730 Apocalicious
Apocalicious's picture

Seriously, I thought for a second they were using some translation software that just randomly inserted letters. WTF are these frogs talking about?

Fri, 01/13/2012 - 15:44 | 2062773 falak pema
falak pema's picture

don't tell me you guys have heard of her!!!

Fri, 01/13/2012 - 13:49 | 2062247 YesWeKahn
YesWeKahn's picture

This is what they really wanted to say:

Putain de merde, bordel de con, saloprie connard enculé, imbécile fils de pute S&P!

Fri, 01/13/2012 - 15:53 | 2062816 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, I sure that they were saying stuff like that behind closed doors.

L'or, putainz!

Fri, 01/13/2012 - 17:25 | 2063203 Fortunate Fool
Fortunate Fool's picture

Or, in a slightly different version: "putain de bordel de merde, ces connards de S&P nous cassent les couilles, quelle bande d'encules de fils de pute". Better, no?

Fri, 01/13/2012 - 13:49 | 2062249 vegas
vegas's picture

Denial, then anger, then reluctant acceptance, then ignore it as Politicos go back to biz as usual. Take Soetero's advice and ask for ALL the power.

Fri, 01/13/2012 - 13:50 | 2062254 LawsofPhysics
LawsofPhysics's picture

So we are all going long financials over the weekend right?

Fri, 01/13/2012 - 13:52 | 2062270 slaughterer
slaughterer's picture

Yup.  Inverted world investing 101.  

Fri, 01/13/2012 - 13:53 | 2062280 lizzy36
lizzy36's picture

Costanza trade ftmfw.

Fri, 01/13/2012 - 16:53 | 2063055 lotsoffun
lotsoffun's picture

starting with BAC, which has obviously hit bottom and is ready to rock up to who knows how much.  at least the $7+ buffett paid for it.


Fri, 01/13/2012 - 13:50 | 2062255 Maiden Lane
Maiden Lane's picture

Can we get at least one default so the rest will know how

Fri, 01/13/2012 - 13:51 | 2062259 cossack55
cossack55's picture

So.....expressed mathamatically:

Cog dis = (cert dep - credit def swap) x (AAA - France) + Pi

No wonder France hasn't done shit since Napoleon.

Fri, 01/13/2012 - 15:43 | 2062769 falak pema
falak pema's picture

...No wonder France hasn't done shit since Napoleon....

Just as well; though NS has tried to put on his head the triangular toupee that made Bonaparte apart.

I'ts time to return to pre-Bonaparte, in fact to re-enlightenment. We need it bad. World-wide.

"Lets go light the torch," is all I can say.

Fri, 01/13/2012 - 13:51 | 2062260 lizzy36
lizzy36's picture

From DSK:

Voulez vous coucher avec moi ce soir?

Fri, 01/13/2012 - 14:02 | 2062315 YesWeKahn
YesWeKahn's picture

"Vous etes belle Bernanke, where did you hair go?"

Fri, 01/13/2012 - 17:41 | 2063249 Mr Kurtz
Mr Kurtz's picture

DSK? C'mon, even Lady Marmalade has some scruples.


Fri, 01/13/2012 - 13:51 | 2062264 slaughterer
slaughterer's picture

Nicolas Sarkozy: "Pas de problem.  Le Bernanke will save us."

Fri, 01/13/2012 - 14:42 | 2062500 King_of_simpletons
King_of_simpletons's picture

Sackozeeeee: "J'ai hérité le problème de GW Bush"

Fri, 01/13/2012 - 15:55 | 2062824 DoChenRollingBearing
DoChenRollingBearing's picture



It's all George Bush's fault.



Fri, 01/13/2012 - 13:52 | 2062269 falak pema
falak pema's picture

I don't worry about these comments; after all its election year; so those out of power cry ; Sarkozy's incompetence got us here, he promised all and gave us a downgrade instead. The people in power sing : Its  the crisis and those notational shills who suck the teat of the speculators." They are both right. But that's not the point. Its much bigger than what happens in France in the next two years. 

But that...has still to play itself out.

Fri, 01/13/2012 - 13:52 | 2062274 Captain Kink
Captain Kink's picture

Yawn.  Wake me up at euro 1.20

Fri, 01/13/2012 - 15:57 | 2062832 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Nice take.

Fri, 01/13/2012 - 13:56 | 2062282 bpom
bpom's picture

Certaines personnes n'ont aucun sens de fucking humour.

Fri, 01/13/2012 - 13:55 | 2062284 Legal Beagle
Legal Beagle's picture

I'm still learning about the eurozone and bond crisis. I have a question: I understand that it will become more difficult for France to sell bonds, but if you stretch it out, what does it mean exactly?

Fri, 01/13/2012 - 14:11 | 2062375 bpom
bpom's picture

They will have long bonds.

Fri, 01/13/2012 - 14:13 | 2062386 Legal Beagle
Legal Beagle's picture

LOL! Long in the physical sense? I meant if you follow through with the logic, what are the implications of losing this AAA rating?

Fri, 01/13/2012 - 15:58 | 2062837 falun bong
falun bong's picture

it will cost them more to borrow money via higher interest rates. So they will have to borrow more to pay the additional interest cost. Which will make their rating go down even more. Which will cost them more to borrow money. So they will have to borrow more to pay the additional interest cost...which...which...which...

See where it goes?

Fri, 01/13/2012 - 13:55 | 2062285 Diet Coke and F...
Diet Coke and Floozies's picture

OT, but I just found out that Canadian 1 and 2 dollar coins will be made of steel, not nickel, soon... To save costs...

Fri, 01/13/2012 - 13:58 | 2062294 bpom
bpom's picture

American nickels cost more than a $.05 to make.

Fri, 01/13/2012 - 14:07 | 2062342 roadhazard
roadhazard's picture

God Bless America.

Fri, 01/13/2012 - 14:41 | 2062497 pine_marten
pine_marten's picture

Ya, but vot r dey virth?

Fri, 01/13/2012 - 14:02 | 2062311 kralizec
kralizec's picture

sacré bleu!

Fri, 01/13/2012 - 16:01 | 2062845 falun bong
falun bong's picture

Actually "sacre bleu" is a French Canadian expression, not French. When French Canadians want to swear they name things on the altar, like "chalice!"

Fri, 01/13/2012 - 17:09 | 2063132 toomanyfakecons...
toomanyfakeconservatives's picture

Care to back up your etymology?

Fri, 01/13/2012 - 14:02 | 2062313 Snakeeyes
Snakeeyes's picture

Seriously, what else were they going to say? "Socialism and crony capitalism was a terrible idea."

Now they will elect a Socialist and throw gas on the fire.

Fri, 01/13/2012 - 16:11 | 2062875 Dave Thomas
Dave Thomas's picture

It will probably be all those angry Algerians rummaging around in France that will be throwing gasoline all over the place.

Fri, 01/13/2012 - 14:05 | 2062329 ghostfaceinvestah
ghostfaceinvestah's picture

No country in the euro-zone deserves a AAA rating by definition, as they cannot independently control both fiscal and monetary policy.  They will all be downgraded eventually (including Germany).

Fri, 01/13/2012 - 14:06 | 2062334 adr
adr's picture

So stocks will shoot up 5% on Tuesday on QE $1trillion + hopes? We can only be saved with free money. Hell I could do quite well with an Amex Black card connected to someone else's account. Couldn't you?

Fri, 01/13/2012 - 14:06 | 2062336 valley chick
valley chick's picture

Who is up next?  Italy, Portugal, and Greece?

Fri, 01/13/2012 - 14:25 | 2062445 Instant Wealth
Instant Wealth's picture

Italy, Spain and Portugal were mentioned (together with France), Austria questionable.

Fri, 01/13/2012 - 14:58 | 2062575 walküre
walküre's picture

The US should be BBB but look who's doing the rating.

Why don't we just scrap the entire rating bullshit since the only buyers left are the CBs anyway! Heck we can't do that now can we. Can't eliminate those jobs for those smart financial wizards that have started wars again and again. The leeches need to get paid of course on their FIAT money that they and only they control.

Anyone else think this whole racket stinks to high heaven and we need a good cleanse? A good culling of the financial wizardry would do wonders for our freedom and our free entrepreneurial spirits!

Fri, 01/13/2012 - 14:07 | 2062340 Burr's 2nd Shot
Burr's 2nd Shot's picture

Lassiz les bon temps rouler, chiennes!

Fri, 01/13/2012 - 14:07 | 2062345 non_anon
non_anon's picture

pepe le pew

Fri, 01/13/2012 - 14:09 | 2062349 Joebloinvestor
Joebloinvestor's picture

Maybe France will have to start cutting their entitlement programs and government subsidies.

You get a real good idea of the shape of the Euro if you have ever tried to break a 500 Euro note in France.

Hint: no bank will touch them, you have to go to a currency exchange center.

Fri, 01/13/2012 - 14:51 | 2062534 walküre
walküre's picture

No problem in Paris. Nice hookers and blow are going for top Euros.

Fri, 01/13/2012 - 14:10 | 2062356 williambanzai7
williambanzai7's picture

Hey, I just did a reverse translate into French:

Hey Diddle Diddle,

Le chat et le violon,

La vache a sauté sur la lune,

Le petit chien se mit à rire de voir le sport tel,

Pour que le plat s'est enfui avec la cuillère

Fri, 01/13/2012 - 16:04 | 2062856 falun bong
falun bong's picture

My favorite French poem:


"Lit-elle messe Moffett

Satan ne te fete

Et digne Somme couers et ouai

A longue qu'aime est-ce paille d'Eure

Et Satan bise ailleurs

Et fredonne messe Moffett, ah ouai!"

Fri, 01/13/2012 - 14:11 | 2062360 stopcpdotcom
stopcpdotcom's picture

Douglas Peterson's mother was a hamster and his father smelt of elderberries.

Fri, 01/13/2012 - 18:11 | 2063413 Mr Kurtz
Mr Kurtz's picture

The French insults from Monty Python, hamsters and elderberries et al.

Fri, 01/13/2012 - 14:16 | 2062397 FrozenOut
FrozenOut's picture

Does this mean they have to fire the CEO of S&P again? 

Fri, 01/13/2012 - 14:17 | 2062403 williambanzai7
williambanzai7's picture


The War of Finance has begun--Nicolas DeGaulle

Fri, 01/13/2012 - 15:47 | 2062789 falak pema
falak pema's picture

who gave NS two stars on his kepee...Oh, i know he is head of the army. That explains why he did what he did in Libyaaaa.

Hope O'bammy isn't watching this or he will run into Iran every time they play the Marseillaise. A bit like Wagner and Hit-man shag a brown shirt.

Fri, 01/13/2012 - 14:17 | 2062409 fuu
fuu's picture

It's like 1690, again.

Fri, 01/13/2012 - 14:20 | 2062424 Clifhanger
Clifhanger's picture

BOO F*CKING HOO is about all I have to say.  Oh, I almost forgot that I'm sure this will not be the last of the downgrade.  I'm sure the French feel like they are on the wrong end of a menage a trois (even though they claim they invented it)!




Fri, 01/13/2012 - 14:23 | 2062435 devo
devo's picture

Stocks are funnier than Louis CK.

Fri, 01/13/2012 - 14:28 | 2062454 props2009
props2009's picture

C3X performance continues to rocket with 1064 pips over 26 trading calls and achieving a 94% hit rate. 


Over the last 5 months, they have shown how to make money in FX world. 


The live trade has just added the most important element to FX trading: transparency.

Fri, 01/13/2012 - 14:44 | 2062507 walküre
walküre's picture

None of these French pantsies are saying what they ought to be saying.

FUCK YOU S&P and FUCK YOU BANKS and while we're at it .. .FUCK YOU ROTHSCHILDS

Let's hope they are at least thinking it.

Fri, 01/13/2012 - 14:50 | 2062510 SillySalesmanQu...
SillySalesmanQuestion's picture

Reckless fiscal laxity...triple slice of forced austerity...Sarkozy is now the wall...struggle to register same-sex marriages...hmmmmm. Maybe the english translation was bad...?  Filing these phrases away for future use by Congress and Big Ben. I am sure Mr Banzai can use this material immediately...

Fri, 01/13/2012 - 14:56 | 2062566 Amused2Death
Amused2Death's picture

Bullish, non?

Fri, 01/13/2012 - 15:11 | 2062629 whoisjohngalt11
whoisjohngalt11's picture

There is nothing new under the sun---- with these Technocrats...

Fri, 01/13/2012 - 15:11 | 2062631's picture

SarkWoeIsMe....should be the headline...

Fri, 01/13/2012 - 15:22 | 2062690 Big Ben
Big Ben's picture


Aren't the French going to whine that it is Britain that should have been downgraded because it is in much worse shape and that this is actually a plot by Anglo-American rating agencies to sink Europe?

Fri, 01/13/2012 - 15:41 | 2062758 mckee
mckee's picture

mmmmmmmmmm..... blackened babel fish

Fri, 01/13/2012 - 15:43 | 2062767 FairyTale
FairyTale's picture

Michael Fuchs, deputy leader of the parliamentary group for Chancellor Angela Merkel's Christian Democrats, said S&P had a distorted view of the euro zone and that downgrades of its member states were politically motivated.

"Standard and Poor's must stop playing politics... why doesn't it act on the highly indebted United States or highly indebted Britain?" he said, pointing out that Britain has higher public debt and deficits than France.

Fri, 01/13/2012 - 16:15 | 2062883 silverserfer
silverserfer's picture

of course now with how they have the markets set up, gold goes up and down with the markets rather than opposite.

The war on gold price should be ending soon right?

Hopefully this isint the start of a global ring around the rosie

Fri, 01/13/2012 - 16:20 | 2062920 Pat Hibulaire
Pat Hibulaire's picture

we will figth for our "BBB"





Fri, 01/13/2012 - 16:44 | 2063015 youngandhealthy
youngandhealthy's picture

Only 12 countries will hold a triple-A credit score from all three major ratings companies once Standard & Poor's downgrades France and Austria.

Europe will still count nine: UK (if that should be considered Europe or not is questionable), Denmark (Not EMU), Finland, Germany, Luxembourg, Netherlands, Norway (not EU not EMU), Sweden (not EMU) and Switzerland (not EU not EMU).

The other countries that still hold triple-A ratings from Fitch, Moody's and S&P are Canada, Singapore, and Australia. Hong Kong, a special administrative region of Communist China, also holds triple-A ratings.

The only country that does not deserve a AAA in the above group of countries is UK. It is a joke that S&P is not downgrading them at this point in time.

The others (except Germany) are insignificant countries and from a world perspective it shouldnt matter whether US, France or Italy are loosing a grade. Its a relative game. But what seems to be extremly clear is that the "loss of potence" of the US in August when SP downgraded US has been a very bitter pill to swallow for most americans. It is just pathetic.

I belong to the insignifcant countries and feel just disgusted of the behaviour of US and UK. Banks and goverments. Grow up!!

If I could avoid doing business with them I would but I can not.


Fri, 01/13/2012 - 17:10 | 2063138 toomanyfakecons...
toomanyfakeconservatives's picture

I say again... "cheese eating surrender monkeys".

Fri, 01/13/2012 - 17:21 | 2063181 youngandhealthy
youngandhealthy's picture

And I say....

You, not so well hanged little pathetic worm out of southern US.

Sat, 01/14/2012 - 05:48 | 2064332 myne
myne's picture

11 AAA stable's hanging on the wall...

But if one AAA stable should accidently fall?

There'd be 10 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 9 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 8 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 7 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 6 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 5 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 4 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 3 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 2 AAA stable's hanging on the wall!

But if one AAA stable should accidently fall?

There'd be 1 AAA stable hanging on the wall!

But if one AAA stable should accidently fall?

There'd be no AAA stable's and war would certainly ensue.


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