January 2012

The bus test

The PM and the Mayor, political futures, ,jobs and more

Transport of delight?Transport of delight?

It's not a good time for UK plc. Take the threat to UK prestige by the 'adjustment' of the sovereign debt rating. Actually it's a downgrade, adjustment sounds rather bland and it is serious. Also typical of our media you have to dig deep to see that the UK is not alone; perhaps they would prefer it that way? The full list is -

- Austria: outlook on Aaa rating changed to negative
- France: outlook on Aaa rating changed to negative
- Italy: downgraded to A3 from A2, negative outlook
- Malta: downgraded to A3 from A2, negative outlook
- Portugal: downgraded to Ba3 from Ba2, negative outlook
- Slovakia: downgraded to A2 from A1, negative outlook
- Slovenia: downgraded to A2 from A1, negative outlook
- Spain: downgraded to A3 from A1, negative outlook
- United Kingdom: outlook on Aaa rating changed to negative

For many people the difference between the grades is still hard to fathom but the 'shame' of it all is tempered by the fact the UK is not alone. For example why does Ireland not appear on this list, and what happens next? The latter is easier to answer in that Cameron & Co will attempt to spin any bit of good news as hard as they can, nudge us towards the sunny uplands. The nuclear pact with France is typical. But for all the jobs Cameron claims will be created there's the nagging doubt that more military alignment with France is not such a good idea, see HERE .