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

http://www.youtube.com/watch?v=-9l7C6fjvgE

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

http://www.syti.net/Endettement.html 

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:

http://www.imperialteutonicorder.com

 

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
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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:

http://en.wikipedia.org/wiki/Teutonic_Knights

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:

http://www.deutscher-orden.de

http://en.numista.com/catalogue/pieces7792.html

It all makes sense now. Nigel Farage has reported seeing the German Imperial coat of arms during official europarliament ceremonies:
http://dotsub.com/view/a1f849ac-a9fa-429f-81db-33d22dc913f1

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

"We surrender."

Fri, 01/13/2012 - 14:09 | 2062347 Azannoth
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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
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"We surrender."

 

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

Fri, 01/13/2012 - 14:21 | 2062430 navy62802
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Not good enough ...

Fri, 01/13/2012 - 16:02 | 2062850 Dave Thomas
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We'll run away!

Fri, 01/13/2012 - 15:04 | 2062581 francis_sawyer
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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
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dupe

Fri, 01/13/2012 - 13:53 | 2062277 cossack55
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"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
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The RATINGS have been shot!... Round up the usual suspects...

Fri, 01/13/2012 - 14:52 | 2062542 Stu Pedassle
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Today's comedy interlude....

 

http://seekingalpha.com/article/319486-why-gold-related-investments-are-slowly-becoming-worthless?source=yahoo

 

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
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+ 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

As Per Bloomberg! BREAKING NEWS SLOVAKIA SAID TO LOSE A+ RATING AT S&P

Fri, 01/13/2012 - 13:57 | 2062292 Mr Lennon Hendrix
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I think the cannons get shot across the pond now.

Fri, 01/13/2012 - 14:55 | 2062556 earleflorida
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"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

 

Die EURO

Fri, 01/13/2012 - 14:53 | 2062547 walküre
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Die USD!

Die Rothschild vermin creatures from the deepest bowels of hell.

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

ta-BERNANKE!!!

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
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Christian Democrats heart Hungarian Jew(s)...

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