Tuesday, December 20, 2011

How Long Until War in Europe?

The title to this post may seem a little over the top since the article I'm citing to is merely about Britain possibly facing a downgrade from Moody's:
Moody’s, one of the world’s largest rating firms, said in its annual credit report that, although the AAA rating was currently secure, it was based on the economy not deteriorating further or the Government being forced to bail out the banks again.

George Osborne, the Chancellor, has repeatedly stressed the importance of retaining the rating, which determines the rate at which Britain can borrow money on the international financial markets.
The article also mentions France's imminent downgrade, and other continuing problems. But this is what caught my attention:
France is currently facing a downgrading and last week senior French politicians demanded that Britain’s rating should also be reviewed.
With the increased friction between the European nations, and Germany demanding more say-so in how other Euro members run their finances, it heightens the possibility of political instability and armed conflict.

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