EU commission: 'We know better than ratings agencies'

[James1:12]

http://euobserver.com/19/114895

Commission spokesman Olivier Bailly made the statement at a regular press briefing in Brussels on Monday (16 January), two days after US-based agency Standard & Poor's (S&P) downgraded nine EU countries, including France.

"We have more information than the ratings agencies and we think there are elements missing in their analysis ... We have monthly updates from member states. We share this information on a confidential basis. The ratings agencies do not have this information," he said.

Great bluffing, I'm sure the markets are listening

But wait we have a plan, a digital one....

Bailly said EU countries do not have enough money to launch fiscal stimulus programmes and that growth will have to come from "structural reforms" - like creating a new EU digital market - a few years down the line.

[GodsStudent]

http://cnsnews.com/news/article/obama-p ... n-combined

[James1:12]

Ouch, that's a lot of debt! 6.2 trillion dollars, I suppose the only comfort is that when Quantitive easing is flooding the maket each one of those dollars falls in value, oh dear that's not good.

[Resurrection Torchlight]

Raising the ceiling again, the imaginary one that is, in reality their is no ceiling.

If leaders deny there is a problem- then there is no problem- just keep on kicking that can down the road.

RT