.

Hmmmm righteo - Spain looks safer than Italy as borrowing costs fall

(Reuters) - Spain saw solid demand for its bonds on Thursday, paying more than 2 percentage points less to borrow over 5-years than Italy a day earlier as budget cuts helped ease concerns it could be among the next to fall in the euro zone's debt crisis.

Channel 4

"Its Twitterloo! The Banque de France is throwing away the book on monetary diplomacy, and openly lashing out at Britains economic record in remarkable terms today.

A few weeks ago I reported on the growing discontent withing Europes central banks at the unwanted advice to print money from the English Patient.

Today, the Banque de France, Frances central bank, went a step further, clearly translating into English and tweeting out pointed criticisms of the UK economy in the name of its governor.

@banquedefrance: Noyer: The UK has a bigger deficit, as much debt, more inflation, weaker growth, than France.

@banquedefrance: Noyer: Bank lending is collapsing in the UK

Of course the context here is the increasing likelihood that Papa Noel is about to deliver the unwanted Christmas present of a AA credit rating.

I cant find the speech, but the tweets seem to be a defence of Frances credit rating, particularly in relation to the worse economic fundamentals in Britain.

Indeed when I saw Noyer in October he suggested that the eurozone was being punished for its virtue in not engaging in a UK-style massive monetisation of our debts. Certainly Standard & Poors now openly includes the prospect of having a friendly central bank liquidising your debts as a ratings plus point.

So who started this low level economic jousting? As I pointed out last month, European monetary officials are fed up with lectures from Britain.

The not-so-subtle megaphone diplomacy wielded by the Chancellor, PM, and US Treasury Secretary, has, i

The French bank's are in more trouble then our's are , they have the worse credit rating. Anyway who care's what the French say , they can't be trusted.

Can you be?

Maybe not - but we won the war :-)

Fred - Stand to attention for the mayonaise! French pillocks!

Oh well as its Friday -

"There is nothing lower than the human race...except for the French." - Mark Twain

"French history: They turn on their friends and surrender to their enemies!"

.

mnamreh - I did try - but I got bored after 1, maybe 2 seconds.....

.

I wish some of you lot would stop having a go at french people.....do you know them ?, apart from the crap our media put out about them....to me it is very irritating to see diagreements that can be resolved over a period of time between governments turn into a slanging match .....those who doubt the courage french people showed during the second world war should go to the museums and shrines dedicated to the resistance......I don't think that some of the televised prats on so called comedy shows help that much except inflame anti-european ideas !.

RF - its a 2 way street. I personally have had many excellent holidays in France over the years and find the French (once outside Paris) very hospitable.

One thing that separates us from most nations, is our ability to laugh at ourselves.

Q. What does a French military alliance and a French romance have in common?
A. Both are brief, sordid, and completely meaningless.


And for French - substitute any nation you wish !

Of course we are different...cultures etc....but being just plain nasty is not on !....by both sides....at the moment europe as a whole is in deep trouble and it will take a lot of pulling together from all sides to get things back in shape.....skinny...get a life....love the little cartoon figures stan......I'm not good enough at the internet to be able to do that....

RF,

Post 46,

I agree with your sentiments.

Once outside the major European municipalities cities have always found the majority of the population much of a muchness with ourselves.

Also, been surprised by their hospitality and how often they have gone out their ways to be helpful.

If you were referring to "Allo Allo" program, when I first saw it, I winced, but later did find it very funny.

Some of the French who told me the has seen the series, said that they had also found it very funny.

Also, a simple "Hello" often broke the ice.

-------

Last year, my grandchildren and parents stayed with my wife and self on a campsite in the Dordogne for three weeks.
For me, it was very pleasant to see the children of various nationalities (German. French, Dutch, Belgian, etc.) all playing happily together and the parents also being mutually helpful.

But there was low level banter without animosity.

Also interesting, to note how well the parents and offspring spoke and understood English compared with my own stuttering French.

-----------

To get out of the economic mess we are in within the next 12-18mths, we need Europe to do it. I am sceptical whether Europe needs us.

Trying to lay down rules and hoping to plunder Europe to satisfy UK "independence" rightly grates.
_______

Also I am fed up with paying exchange rates and charges on purchases from Europe and the same must apply to those in the Euro-zone dealing with the UK.
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Some in the UK are celebrating the fall in value of the Euro. Marvellous for me, and my next holiday, but the effect on our exports. Umhh.

A good post from RichGit on another mm



Merkel prefers to push Euroland into recession than lose Her position
of power.

She may yet even make Gordon Brown look intelligent,as the costs of Her
clinging to power will no doubt be remembered far longer than Gordie`s,in their immensity and consequence


How long can the other Pantomime member. watch the Carnage as the loss
of His AAA rating must be looming ever faster.

Seems we have the same panic selling of all assets for cash as in 2008
as some Market players face huge losses.,and sell their Gold positions.

Cycles & re-cycles

Fred1new....I thought the same about Allo-Allo, the first time round but...just like you got to love the series !.....for british exports : a cheap pound must be helping....bought a car in calais 12 years ago : 1.54 euros to the pound was the rate then...just shows.....

RF,

You must have been in Calais the same time as me.

I remember it well.

8-)

Alds,

With the present strength of the German economy Angela and the German people are for the moment well off inside or outside the Euro-zone.

The Euro going down benefits German export and economy for a while, but the benefit of devaluation is momentary.

Unlike, you I think Merkel thinks not only of her political position, her country, but also Europe as a unit.

This will be for the longterm good for Germany and Europe.

In this country, we see a political leader, who thinks of what is opportune to his own immediate needs and his "here to-day gone to-morrow friends" and city backers.

======

Look at the recent economic figures, forecast and trends, if you think these support a little englander's isolationist plunder policy, I would suggest you review it.

I think, the long term future of the UK is accepting that it is within Europe and part of it.


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Back to bread making, of far more immediate importance. So my wife says.