Here Are The First Official Responses By French Politicians To S&P Downgrade
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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"Ce la vie" or "merde"?
C'est la vie.
Like they didn't see this shit coming.
C'est la Merde
This is the trigger for a French-German breakup and NASTY divorce.
I thought that happened in 39' and settled out of court in 40'.
Banks in the eurozone will close Mon-Wed.
riots -> martial law -> end of "democracy"
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!
Video of the reaction..
http://www.youtube.com/watch?v=FWBUl7oT9sA
and video of the Italian reaction...3:50 into the clip
http://www.youtube.com/watch?v=-9l7C6fjvgE
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
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
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.
Do you have any other references on these guys other the dot-com?
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
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?
...The First Official Responses By French Politicians To S&P Downgrade...
The French are standing on the Edge of a Cliff and S&P just said 'jump', will they oblige? Seems so..
+10 thanks for making me have a scene here at work
Not good enough ...
We'll run away!
I'm shocked... SHOCKED to find out there are downgrades going on in this establishment!
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.
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...
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.
dupe
"Ce la vie say the old folks,
Ya know ya just never can tell"
John Prine
Common Sense LP
Chuck Berry
Duck Walk LP
Try some of the new Euro fragrance "Eau de PIIGSty".
I think that it is now time to add something from France to that fragrance...
They fart in S&P'S general direction.
Your mother was a hamster, and your father smelt of elderberry!
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.
Hmm, time for some icecream...
The RATINGS have been shot!... Round up the usual suspects...
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.
those comments sound a lottle different then our crybabies across the pond. Wow.
"We have the finest wine in Christendom."
Château Migraine 2012 ?
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.
+ 1 for truth
lottle is a word. yup.
Who's up next?
As Per Bloomberg! BREAKING NEWS SLOVAKIA SAID TO LOSE A+ RATING AT S&P
I think the cannons get shot across the pond now.
"nulla dies sine linea", par maginot - oue!
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
Poor FrAAnce. haha
Die EURO
Die USD!
Die Rothschild vermin creatures from the deepest bowels of hell.
ta-BERNANKE!!!
ta bernanke has something for you too - and you'd be 'prone' to accept it.
Christine Boutin been smoking some whacky tabacky today.
Christian Democrats heart Hungarian Jew(s)...
These translations reminded me of protesting Alzheimer's patients.
http://www.theonion.com/articles/alzheimers-sufferers-demand-cure-for-pancakes,835/
Seriously, I thought for a second they were using some translation software that just randomly inserted letters. WTF are these frogs talking about?
don't tell me you guys have heard of her!!!
This is what they really wanted to say:
Putain de merde, bordel de con, saloprie connard enculé, imbécile fils de pute S&P!
Yes, I sure that they were saying stuff like that behind closed doors.
L'or, putainz!
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?
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.
http://vegasxau.blogspot.com
So we are all going long financials over the weekend right?
Yup. Inverted world investing 101.
Costanza trade ftmfw.
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.
Can we get at least one default so the rest will know how
So.....expressed mathamatically:
Cog dis = (cert dep - credit def swap) x (AAA - France) + Pi
No wonder France hasn't done shit since Napoleon.
...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.
From DSK:
Voulez vous coucher avec moi ce soir?
"Vous etes belle Bernanke, where did you hair go?"
DSK? C'mon, even Lady Marmalade has some scruples.
http://www.youtube.com/watch?v=B_T1HPxfRUY
Nicolas Sarkozy: "Pas de problem. Le Bernanke will save us."
Sackozeeeee: "J'ai hérité le problème de GW Bush"
It's all George Bush's fault.
/sarc
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.
Yawn. Wake me up at euro 1.20
+ 1
Nice take.
Certaines personnes n'ont aucun sens de fucking humour.
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?
They will have long bonds.
LOL! Long in the physical sense? I meant if you follow through with the logic, what are the implications of losing this AAA rating?
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?
OT, but I just found out that Canadian 1 and 2 dollar coins will be made of steel, not nickel, soon... To save costs...
American nickels cost more than a $.05 to make.
http://www.zerohedge.com/news/some-words-advice-kyle-bass
God Bless America.
Ya, but vot r dey virth?
sacré bleu!
Actually "sacre bleu" is a French Canadian expression, not French. When French Canadians want to swear they name things on the altar, like "chalice!"
Care to back up your etymology?
http://en.wikipedia.org/wiki/Sacre_bleu
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.
It will probably be all those angry Algerians rummaging around in France that will be throwing gasoline all over the place.
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).
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?