Fitch cuts Portugal credit rating to junk status, page 1

privacy

Pages:
ATS Members have flagged this thread 4 times

Topic started on 24-11-2011 @ 05:19 AM by surrealist

MarketWatch

Fitch Ratings on Thursday cut Portugal's sovereign credit rating to BB-plus from BBB-minus, putting the country's rating in junk status. The rating carries a negative outlook, which means a further cut is possible. "The country's large fiscal imbalances, high indebtedness across all sectors, and adverse macroeconomic outlook mean the sovereign's credit profile is no longer consistent with an investment-grade rating," Fitch said in a news release. The ratings firm said recession will make the government's deficit-cutting plan more challenging and will hurt bank asset quality, but that the government's commitment to the plan was "strong." The Portugal PSI 20 index is up 0.2% to 5,241.26, underperforming other European stock markets

Another one bites the dust. Should see a few more downgrades in coming weeks and months, of other countries.

reply posted on 24-11-2011 @ 05:30 AM by theovermensch

I wonder if the Australian banks can sell enough tax payer covered bonds fast enough to drag us into the bank forced austerity? I cant believe they passed the 'covered bond legislation' here a few weeks ago.It is so obvious what the banks are trying to do to us.And obvious our governments are complicit.

reply posted on 24-11-2011 @ 05:44 AM by Trustme333

reply to post by theovermensch

IMO the banks are just starting on their plan to push up interest rates worldwide..

That will spell the end for many countries economically as they will never be able to repay their debts..

I think we have only just seen the start of rioting...

No one will put up with the austerity measures I'm sure are coming..

reply posted on 24-11-2011 @ 05:46 AM by WakeUpRiseUp

The first dominos are almost on a full tilt boogie.. ready to boogie on down to western town
globalistaion will see every economy collapse soon enough

reply posted on 24-11-2011 @ 05:48 AM by RP2SticksOfDynamite

Could it be so bad that even TPTB have lost a little of the plot!!!

Nationalise the banks for 10 years and cancel most of the debt.

Put the bankers on trial and then confiscate the money they have stolen from Governments and the rest of us!!!

This is the only way to stop these basta.ds!!!!!!!!!!!

reply posted on 24-11-2011 @ 07:43 AM by eldard

Originally posted by RP2SticksOfDynamite

Could it be so bad that even TPTB have lost a little of the plot!!!

Keep dreaming. They have been doing it over and over again for thousands, not just decades or hundreds, of years. they always win. The masses are too dumb not to lose.

reply posted on 24-11-2011 @ 07:47 AM by RP2SticksOfDynamite

Originally posted by eldard

Originally posted by RP2SticksOfDynamite

Could it be so bad that even TPTB have lost a little of the plot!!!

Keep dreaming. They have been doing it over and over again for thousands, not just decades or hundreds, of years. they always win. The masses are too dumb not to lose.

You are probably right but sometimes even the omnipotent can be so arrogant and complacent that they can make miss judgements!! Note I said a "little" of the plot! We will see how things unfold from here!

reply posted on 24-11-2011 @ 04:28 PM by Colbomoose

reply to post by theovermensch

Here, here!
I can't believe how little has been mentioned about the covered bonds in the media.
Sell investments backed by high quality assets - depositor's funds. We are about to be ripped off

Pages: ^^TOP^^