Triple A

Apparently the countries credit rating has been downgraded from the top triple A rating to AA+.

Shock. Horror. Batten down the economic hatches.

I have absolutely no idea what this really means.

A credit rating company called Moody seems to have made this decision relating to the stagnation of Britain's economy which although achieving a little blip of progress during the Olympic months has failed to show the progress promised by the Prime Minister and the Chancellor.

So should we be concerned? According to Mr Balls we should. According to him this is of great embarrassment to the government.

As a member if the general public will it make much difference to me? I really don't know. I read that the markets were expecting it so any effect should be minimal. But who really knows how the markets work?

It seems that most countries including America and France have previously been downgraded after Moody got the hump with them. They are still ok.

So I'm sure will we.

AA+ sounds pretty good to me.






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