Fitch just cut the long-term issuer ratings of 5 EU countries:

Belgium: AA+ to AA

Spain: AA- to A

Italy: A+ to A-

Cyprus: BBB to BBB-

Slovenia: AA- to A

It affirmed Ireland's BBB+ rating with a negative outlook.

Borrowing costs have been sinking for these countries lately–particularly for Italy and Spain—after the European Central Bank announced liquidity support measures in early December that have lessened mounting worries about the health of the banking system.

While Fitch says that it supports EU leaders actions to address the crisis so far, a lot more has to happen before these countries are out of trouble:

In Fitch's opinion, the eurozone crisis will only be resolved as and when there is broad economic recovery. It is evident that further substantial reforms of the governance of the eurozone will be required to secure economic and financial stability, including greater fiscal integration.

In particular, Fitch suggested that large-scale purchases of sovereign bonds by domestic banks after the European Central Bank conducted its first LTRO in December has not helped matters in the long-run:

Rising "home bias" in the allocation of capital, the divergence in monetary and credit conditions across the eurozone, and near-term economic outlook highlight the greater vulnerability to monetary as well as financing shocks faced by these sovereign governments.

Read more: www.businessinsider.com . . .

Well, the euro's can't blame it on S&P this time.

Wonder where that Greek/butt-fucker is about now?

It's all going down.

Meanwhile in Davos President Calderon called Zeurope a time bomb for the world economy.

In private remarks he described the French as monkeys and Germans as pigs incapable of running a third world economy.

ROTFL - Even Mexshithole defacates on the Euros

Save money and travel to Europe soon for bargains. I hear the funny steel tower in Paristan will be available by the kilogram for scrap dealers.

Bat2 wrote:

Save money and travel to Europe soon for bargains. I hear the funny steel tower in Paristan will be available by the kilogram for scrap dealers.

I doubt that - even being in a blast furnace @ 1000oC for a couple of hours the smell of shit would still be there - now this does not matter much if the steel is 2 be used in renault cars cos they are shit anyway but exporting it would be a no no

english cars can't be shit, they don't exist.

Jaguar
Rover
And then there are Britain's niche car makers, famous names that produce limited numbers of sports and luxury cars.

The most high-profile of these, Rolls-Royce, now belongs to BMW, which bought the rights to the prestigious marque in 1998. It is due to take over production of Rolls Royce cars in 2003.

Volkswagen, which lost the Rolls Royce marque to its German rival after a bitter takeover battle, holds the rights to Rolls Royce's sister brand, the Bentley.

TVR, Lotus and Lola are famous for their innovative sports and racing cars.

One of the most quirky firms is probably Morgan Motor Cars, with its Aero 8 roadster, built by hand with an aluminium body mounted on an ash frame.

Jaguar Cars Ltd, known simply as Jaguar, is a British luxury car manufacturer, headquartered in Whitley, Coventry, England. It is part of the Jaguar Land Rover business,[2] a subsidiary of the Indian company Tata Motors

I invoque thereby the Chewabacca defense

simplefrench wrote:

Jaguar Cars Ltd, known simply as Jaguar, is a British luxury car manufacturer, headquartered in Whitley, Coventry, England. It is part of the Jaguar Land Rover business,[2] a subsidiary of the Indian company Tata Motors

This confirms what I always suspected, that Simple is merely a bot, probably one programmed by a CS 201 student.

VAVD wrote:

simplefrench wrote:

Jaguar Cars Ltd, known simply as Jaguar, is a British luxury car manufacturer, headquartered in Whitley, Coventry, England. It is part of the Jaguar Land Rover business,[2] a subsidiary of the Indian company Tata Motors

This confirms what I always suspected, that Simple is merely a bot, probably one programmed by a CS 201 student.

French governement: No money but "big" ideas !

ReBourne wrote:

Well, the euro's can't blame it on S&P this time.

Wonder where that Greek/butt-fucker is about now?

Here is a face that you guys will be seeing a lot of in the next few weeks.



Stephen Joynt, pedophile CEO of the crooked company of turd-eating crash test dummies named Fitch Rating, prepare to be humiliated like you've never been before.