OFFICIAL Thread | Markets, Economic News

[anonymousfaarax]

For news and discussion about financial markets, economics related news, industries, currencies, companies, IPO's etc.

A much needed addition to the forum, lets start it and keep it going

[Coeus]

Great initiative, but the creator of the thread must be first to Contribute.

[anonymousfaarax]

Yh I wz about to but I am occupied with finding out why my other topic about Somali businesses ws delted:

"The requested topic does not exist."

Who is the moderator for the general section ? I remember seeing the mod list somewhere.

[anilweyne]

Turkiet=Turkey has/is the fastest growing economy in the world today.

[anonymousfaarax]

The French are BITTER

Chairman of French Central bank says UK should be downgraded first

The chairman of the French central bank, Christian Noyer, has said ratings agencies should downgrade the UK before France because its economy is weaker.

US agency Standard and Poor's recently warned France its rating could suffer over the eurozone crisis and downturn.

"The downgrade does not appear to me to be justified when considering economic fundamentals," Mr Noyer said.

The British Government responded by saying the UK had a credible plan for dealing with its deficit.

Speaking to French regional newspaper Le Telegramme, Mr Noyer said any downgrade should start with Britain "which has more deficits, as much debt, more inflation, less growth than us and where credit is slumping".

Britain was not identified as a credit risk by Standard and Poor's in its report earlier this month.

The spokesman for UK Prime Minister David Cameron said: "Credit ratings are a matter for credit rating agencies but we've put in place a credible deficit reduction plan and you can see that credibility in the UK's bond yields."

...

Relations have been strained between France and Britain, which vetoed changes to the Lisbon Treaty that would have allowed for closer economic integration.

Finance Minister Francois Baroin poked fun at Britain, saying the fiscal pact had been backed by every country in Europe, "with the singular, now solitary, exception of Great Britain, which history will remember as marginalised". "Great Britain is in a very difficult economic situation, a deficit close to the level of Greece, debt equivalent to our own, much higher inflation prospects and growth forecasts well under the eurozone average," he said.

"It's an audacious choice the British government has made."

Read more @ http://www.bbc.co.uk/news/world-europe-16207748

[UlteriorMotive]

Great thread.

[anonymousfaarax]

^ Thanks. I created it a while back but forgot about it. but I intend to keep it going now

[Saraxnow]

Les Bleus are now green with envy lol

[waryaa]

nice topic

Talking about Turkey, I don't know what they are up to but hundreds and hundreds of Turks are in Mogadishu. I saw a Turkish ambulance driver with no bodyguards yesterday. Rumor has it they want to get most of rebuilding contracts when the UN relocates to Mogadishu and the Shababs are weakened more.

[anonymousfaarax]

The French President told his MPs: "Cameron behaved like a stubborn kid, with only one objective: protecting the City [of London], which wants to carry on behaving like an off-shore tax haven. No other country supported him, which is what you call a clear political defeat."

It was funny when Sarkozy and Merkel were ignoring him on TV. At one point he was sitting at a table alone and every one else at another table

[anonymousfaarax]

Britain 'resisting EU pressure' to contribute £30bn to IMF

Britain is resisting EU pressure to require it to contribute up to £30 billion in support for the eurozone through the International Monetary Fund (IMF), Downing Street has indicated.

Speculation about a new UK commitment was sparked by a report in the IMF's internal magazine suggesting that last week's EU summit agreed new loans of 200 billion euro - 150 billion from the 17 eurozone countries and 50 billion from the other 10 member states.

As the UK is by far the biggest EU economy outside the eurozone, any such burden would be likely to fall predominantly on Britain.

But David Cameron's official spokesman said that the Prime Minister did not sign up to any such commitment in Brussels last Friday and made clear to other EU leaders that the UK would not contribute towards the 200 billion euro fund.

Britain has already made around £40 billion available to support the IMF, of which some £10 billion remains uncommitted. Any further contribution would have to be approved by Parliament.

http://www.telegraph.co.uk/news/8956313 ... o-IMF.html

[anonymousfaarax]

Yet another increase in UK unemployment. The official unemployment rate now stands at 8.3% and youth unemployment stands at 22%. It looks like things will only get worse.

Of course the unofficial unemployment rate is much, much higher once you take into account non-claimants (who do not claim job-seekers money), those not elligable and those wrongly on other benefits when they are fully able to work.

Europe wide youth-unemployment

[anonymousfaarax]

nice topic

Talking about Turkey, I don't know what they are up to but hundreds and hundreds of Turks are in Mogadishu. I saw a Turkish ambulance driver with no bodyguards yesterday. Rumor has it they want to get most of rebuilding contracts when the UN relocates to Mogadishu and the Shababs are weakened more.

Im not sure what turkey wants with south Somalia but they sure will be hit very hard by the imminent european meltdown and depression.

[anonymousfaarax]

The French Central Banker, Prime minister and Finance minster have all now said that Britain should be downgraded. They are real bitter... UK government says back off

Calm economic rhetoric, Nick Clegg tells French PM


Deputy Prime Minister Nick Clegg has told the French prime minister that steps should be taken to "calm the rhetoric" on the UK economy.

Mr Clegg told Francois Fillon that remarks from members of the French government "were simply unacceptable".

French finance minister Francois Baroin earlier described the UK's economic situation as "very worrying."

And the chairman of the French central bank suggested the UK's credit rating should be downgraded - ahead of France.

Meanwhile, UK officials are to join continuing eurozone talks despite Prime Minister David Cameron's veto of an EU-wide treaty change involving all states.

Chairman of the French central bank, Christian Noyer, had suggested Britain was a candidate for a downgrade amid fears in Paris that France might lose its triple-A rating. Mr Fillon had made similar comments in Rio de Janeiro.

'Rather be French'

Then on Friday, Mr Baroin told Europe 1 radio: "The economic situation in Britain today is very worrying, and you'd rather be French than British in economic terms."

http://www.bbc.co.uk/news/uk-politics-16222988

[anonymousfaarax]

THE EU FISCAL AGREEMENT DRAFT: IN FULL, can be accessed here:

http://www.telegraph.co.uk/finance/fina ... -full.html

It is an 8 page document.