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Latest - Britain's Credit Rating downgraded tonight

Comments

  • #2
    firefight7
    Registered Users, Registered Users 2 Posts: 12 ✭firefight7


    Not good for Ireland or good for Ireland?


  • #3
    spank_inferno
    Closed Accounts Posts: 3,892 ✭✭✭spank_inferno


    firefight7 wrote: »
    Not good for Ireland or good for Ireland?

    I'm not sure it matters either way.

    Some more egg on the Tory Parties face though.
    I'm sure hey will blame with previous Labour administration (with some legitimacy).


  • #4
    Death and Taxes
    Closed Accounts Posts: 3,775 ✭✭✭Death and Taxes


    firefight7 wrote: »
    Not good for Ireland or good for Ireland?

    Well the value of sterling might weaken which is not good for exports.


  • #5
    Banjo String
    Closed Accounts Posts: 14,380 ✭✭✭✭Banjo String


    WileyCoyote wrote: »
    Well the value of sterling might weaken which is not good for exports.

    Weaker Sterling could surely only be good for exports?

    The people importing from the UK would have to spend less of their own domestic currency?


  • #6
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    SamHall wrote: »
    Weaker Sterling could surely only be good for exports?

    The people importing from the UK would have to spend less of their own domestic currency?

    No. Weak Sterling is good for British exports, bad for anyone exporting to Britain. Think of it this way if today £1 = €2 and tomorrow £1 = €1 then tomorrow it will be twice as expensive for a British resident to buy Irish beef than it was today (extreme example, oversimplifying the supply chain etc but you get the idea).


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  • #7
    thecommietommy
    Banned (with Prison Access) Posts: 564 ✭✭✭thecommietommy


    Bad news again, Enda will be watching nervously.


  • #8
    lucky frank lives
    Registered Users, Registered Users 2 Posts: 83 ✭✭lucky frank lives


    They see me trollin' they hatin'

    trollin' tryin' catch writing dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty


  • #9
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    lucky frank lives wrote: »
    They see me trollin' they hatin'

    trollin' tryin' catch writing dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty

    tryin' catch writin' dirty


    Eh, next time just PM me asking for the ban yeah?


  • #10
    henryporter
    Registered Users, Registered Users 2 Posts: 2,089 ✭✭✭henryporter


    nesf wrote: »
    No. Weak Sterling is good for British exports, bad for anyone exporting to Britain. Think of it this way if today £1 = €2 and tomorrow £1 = €1 then tomorrow it will be twice as expensive for a British resident to buy Irish beef than it was today (extreme example, oversimplifying the supply chain etc but you get the idea).

    You mean 'horse' of course :)

    Seriously though, yes it's bad news for Irish manufacturers and exporters, and also if Sterling does weaken expect to see the weekly shopping pilgrimages to Newry and Enniskillen back on the agenda. In terms of the bigger picture it's not good to see the UK credit rating slipping as an indicator of the health of one of the cornerstones of the global economy.


  • #11
    ardmacha
    Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    Seriously though, yes it's bad news for Irish manufacturers and exporters, and also if Sterling does weaken expect to see the weekly shopping pilgrimages to Newry and Enniskillen back on the agenda. In terms of the bigger picture it's not good to see the UK credit rating slipping as an indicator of the health of one of the cornerstones of the global economy.

    While some trade will move to NI, there won't be the flows of 2008. Price in NI has risen markedly in that time, while they have risen much less in the Republic and people in the South have less money to spend.


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  • #12
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    I can't see £ weaken too much. Most countries in the eurozone are in recession and have lost their AAA ratings. The only real impact of this is the UK's borrowing costs will rise slightly.

    Whilst it doesn't look good for the UK government, at least they are tackling the problem and trying to bring down the deficit. Unlike the Democrats in the US.


  • #13
    Coillte_Bhoy
    Registered Users, Registered Users 2 Posts: 7,911 ✭✭✭Coillte_Bhoy


    Read a report somewhere over the weekend that mots experts expect sterling to fall to parity with the euro over the coming months


  • #14
    gallag
    Banned (with Prison Access) Posts: 3,355 ✭✭✭gallag


    Coillte_Bhoy wrote: »
    Read a report somewhere over the weekend that mots experts expect sterling to fall to parity with the euro over the coming months
    That would be good for uk manufacturing.


  • #15
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    Coillte_Bhoy wrote: »
    Read a report somewhere over the weekend that mots experts expect sterling to fall to parity with the euro over the coming months

    'experts' ? No such thing. I've seen these so called experts change their opinions in the space of a few minutes.

    Facts are no one knows, if the euro crisis explodes again, sterling will go back in to the 70's


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