Skip to comments.Britain blames euro for triple-A warning
Posted on 12/21/2011 12:59:17 AM PST by Olog-hai
The British government has blamed the euro for ratings agency worries on its triple-A status amid a widening political gap between Brussels and London.
A UK treasury spokesman told newswires on Tuesday (20 December) that exposure to the eurozone is the main reason why Moody's earlier the same day warned that Britain's top-level grade faces "formidable and rising challenges."
The spokesman said: "The UK is not immune to the problems facing our trading partners in the euro area; the crisis is having a chilling effect across Europe and it is important that the euro area continues to take decisive action to fix their problems."
(Excerpt) Read more at euobserver.com ...
It couldn’t have anything to do with all that borrowing and spending...