marahfreedom

Posts Tagged ‘France’

2 Articles on Collusion and Profiteering off Taxpayer Monies between Councils and Crony Businesses – reposted by @AgreeToDisagree – 22nd February 2012

In 1% tricks and traps, Abuse of Power, Bad By-Laws, bad laws, collusion, criticism, Invasive Laws, spirit of the law, unprofessional behaviour, unreasonable fines on February 21, 2012 at 9:55 am

ARTICLE 1

Now the French say holidaymakers have to carry a breathalyser kit in their car – By John Stevens Last updated at 9:39 AM on 21st February 2012

Fine for drivers who fail to carry the £2 kit
Rules in France already force drivers to carry a warning triangle and a fluorescent safety vest
Critics brand latest measure a cash cow to make money out of foreign drivers

They have penalised British drivers for not carrying a warning triangle or a fluorescent safety vest.

Now French police have another weapon to wield against holidaymakers – a law insisting all motorists have a breathalyser kit in their cars.

The gadgets, designed so that drivers can test themselves to ensure they are under drink-drive limits, are the latest addition to a list of rules for driving on the other side of the Channel.

Bon voyage: Motorists travelling to France after July will be legally required to carry a breathalyser kit in the car

The measure, which will come into force in July, will apply to anyone travelling through France by car.

Critics however have cast doubt on the accuracy of the kits in being able to tell if a driver is over the limit. Others said it was simply another attempt to make money out of foreign drivers.

Motorists found with between 50mg and 80mg of alcohol in 100ml of blood can be fined 135 euros (£112) and lose six out of 12 points on their driving licence. Above that, a driver risks a fine of 4,500 euros (£3,744), losing their licence and being sent to prison for up to two years.

The French drink-driving limit of 50mg is much lower than in the UK where the limit is 80mg.
What you need to drive in France

Motorists are being urged to carry at least two of the single-use breathalysers so that if they have checked themselves with one they can still show police they have a ready-to-use kit if stopped.

Police, however, will use their own breathalysers to carry out any roadside test.

Those drivers caught without a kit will face a fine of 11 euros (£9) but the French have said there will be a period of grace till November before police start issuing the penalties.

The breathalyser kits cost between around £1 and £2 and will be available at ferry and tunnel terminals for crossings to France, but motoring groups have warned that many drivers will still forget to pack them in their car.

Andrew Howard, the AA’s head of road safety, explained that it takes time for alcohol to be absorbed into the blood, so early readings could be misleading.

He said: ‘After you have had your last swig of alcohol, your reading will continue to rise for the next 40 minutes because it takes time for alcohol to go down into your stomach and be taken into the bloodstream.’

He added: ‘Driving requirements in France are now quite complicated and the list of things you need to take is beginning to be quite a substantial extra charge to a holiday.’

Keith Peat of the Association of British Drivers said: ‘Some people will take the chance and not buy them, but many will simply not know about this latest requirement or just forget.

‘The whole idea of self-testing sounds like nonsense. It seems like another money spinner for the very profitable road safety industry.’

Police are expected to carry out random checks on drivers crossing into France via Calais to ensure that they understand the latest drink-driving rules.

Anyone driving in France is already required to carry a warning triangle and a fluorescent safety vest to use in an emergency.
The drink-drive limit in France is lower than it is in the UK

The drink-drive limit in France is lower than it is in the UK

Additionally British motorists must display a GB plate and have their headlights adjusted to the right.

But even if drivers have the full list of equipment they can still be caught out by the complexity of the rules.

If a motorist carries the luminous vest in their boot rather than the main section of the car they can still be fined.

Drivers are not obliged to carry a spare set of lights, but if one of their bulbs goes and they do not have a replacement ready they can be fined.

A fire extinguisher and first aid kit could also be required in the case of an emergency so not to fall foul of a law about assisting in the event of an accident.

Last month, the French introduced a new law banning satellite navigation systems that show the location of speed cameras.

Those caught can be fined 1,500 euros even if the device is not in use.

Here’s what other readers have said. Why not add your thoughts, or debate this issue live on our message boards.

The comments below have not been moderated.

As someone who has not consumed alcohol for the last 30 years, I hope the machines are accurate. I don’t mind carrying one but would be extremely worried if I tested positive!!!

– wrinkly reader, devon., 21/2/2012 09:34
Rating   1

Sail to Ostend/Zeebrugge instead. Avoid France. – Astounded, Cam’s happy land (Formerly Brown’s Looneybin), 21/2/2012 10:29 <<<< /// so you’re advising to change your travel route because of 2 pounds ! The mind boggles …

– to the point, northern Germany, 21/2/2012 09:33
Rating (0)

and we went to war because???

– luke, london, 21/2/2012 09:33
Rating (0)

If I had my way the kits would be fitted to all cars and you would not be able to start the engine until you had given a sample of breath.

– Chris, Newton le Willows, 21/2/2012 09:33
Rating   1

Yet another pointless piece of plastic junk and unnecessary expence. If you are stupid enough to drink drive, then this piece of junk isnt going to make you stop doing it. And if the French Police have to use their own calibrated equipment then what do any of us need one for? I wonder who manufactures/imports these gadgets? I bet someone in the French government has the exclusive importer contract and is rubbing their hands right now.

– Tammy, Lytham St Annes, 21/2/2012 09:32
Rating   2

They were quick enough to hand over bottles of wine to tommy when being liberated…..

– david, england, 21/2/2012 09:31
Rating   1

Sail to Ostend/Zeebrugge instead. Avoid France.

– Astounded, Cam’s happy land (Formerly Brown’s Looneybin), 21/2/2012 09:29
Rating (0)

Alan Hammond, Egham: “Going by the latest crash IN FRANCE I thInk THEY should PUT THEIR OWN HOUSE IN ORDER FIRST before telling other people what to do.– This is typical of THEM ALL mouth and trousers” – Eh? It was a British driver.

– David Bourke, Rochester, Kent, 21/2/2012 09:28
Rating   2

Good ideas – lets do it here.

– Mikey, Ipswich, UK, 21/2/2012 09:28
Rating (0)

David 08,31 I asked a driving instructor about use of roundabouts in Spain. They are taught to ALWAYS drive in the outside lane no matter which exit they intend to use. This often results in UK drivers having accidents and they are usually at fault. Forgot to say, the inside lane is for…… wait for it ….OVERTAKING !!

– james, puerto del rosario, canary islands, 21/2/2012 09:27

[[[ *** RESPONSE *** ]]]

Collusion between French government and the supplier of these items, which obviously has kickbacks somewhere down the line. There is NO SUCH REQUIREMENT in the UNHCR that allows ANY government to fine or chareg anyone for not carrying such a device on them. This ‘requirement’ is ILLEGAL, shows profiteering by collusion, and needs to be challenged by the French Bar Council and all officials involved scrutinized for potential involvement corrupt government purchases kickbacks culture.

ARTICLE 2

How long is (the paperwork for) a piece of string? Killjoy councils demand Jubilee parties have £5m in insurance liability and are on call 24/7… if they hang up bunting – by Andrew Levy – Last updated at 12:09 AM on 22nd February 2012

Councils across Britain force Jubilee party organisers into costly, expensive structural surveys
The bunting must have liability insurance of £5m – and in some cases, £10m
Some councils demand someone is on call 24/7 in case of problems
Organisers say they are ‘dragged through the mire’ and begin to lose the ‘spirit of the event’

For most people celebrating the Queen’s Silver Jubilee 35 years ago, there was only one rule – enjoy yourself.

Today, it’s a different story, according to a mayor planning a series of parties for this year’s Diamond Jubilee.

Robert Needham, who also organised events in 1977, has claimed that a ‘mire of health and safety’ has  prevented him from putting up bunting – that is, until he has completed a survey to ensure the flags are ‘structurally safe’.

However, he is not alone. Most councils demand that organisers – usually community-minded volunteers – take out liability insurance of £5m or even £10m and have someone on call 24 hours a day.
How long (is the paperwork) for a piece of string? The traditional bunting has become a nightmare for Jubilee organisers

How long (is the paperwork) for a piece of string? The traditional bunting has become a nightmare for organisers

Mr Needham, 70, mayor of Wivenhoe, Essex, said: ‘I remember organising a street party in 1977 and  back then you just got on and did it – there were no restrictions.

‘Then, by the time of the Golden Jubilee, I was involved with another street party and we had to get a street closure order, complete a risk assessment and get public liability insurance in place.

Care home orders grieving daughter to pay £3,000… because she didn’t give 28 days’ notice of her father’s DEATH
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Can you see them? It’s the pancake race elf ‘n’ safety team

‘That was after 25 years of so-called progress, so I guess I should not be surprised at what we are faced with  for the Diamond Jubilee.

‘We just took it for granted that we would be okay putting up bunting and didn’t give it any thought.

‘It is extra work we can do without. There is a lot of jumping through hoops that we will have to do in order to get the event to go ahead.
A dark – and mundane – danger awaits: Wivenhoe is a picturesque town, and could look better with bunting, but only if the inherent danger can be overcome

A dark – and mundane – danger awaits: Wivenhoe is a picturesque town, and could look better with bunting, but only if the inherent danger can be overcome

‘Applying to put up cloth and  plastic bunting seems to me  something we can well do without.

‘It’s very disappointing and does rather dampen the spirit of  the event.’
Despite the deadly potential of Union flag bunting, it can sometimes be displayed, such as in Regent Street, London for Royal Wedding celebrations

Despite the deadly potential of Union flag bunting, it can sometimes be displayed, such as in Regent Street, London for Royal Wedding celebrations

Wivenhoe Town Council learned of the health and safety rules when it announced plans to hang the red, white and blue plastic flags along streets and in a playing field between May 26 and June 5.

However, killjoys from Essex County Council insisted assessments would have to be carried out first to make sure telegraph poles and fences were strong enough to support the weight of the paper-thin bunting.

Mr Needham said the celebrations would go ahead with or without the decorations.

A spokesman for Essex Council said that all district, borough, town and parish councils needed to apply for permission to put bunting or other decorations in public areas.

Officers will then assess if the locations are ‘structurally safe in terms of positioning and weight’.

Tracey Chapman, county councillor responsible for highways, said: ‘We are looking forward to supporting local events to celebrate the Queen’s Diamond Jubilee and would welcome decorations in the county to mark the occasion.

‘But the county council also has a duty to maintain public safety and must ensure decorations are health and safety compliant first.

‘The county council intends to make it as easy as possible for residents to celebrate this momentous event and will be issuing guidance to help answer some of the most commonly asked questions.’
PAPERWORK, INSURANCE, AND A 24/7 CONTACT

Dorset County Council:

‘…A number of conditions must be fulfilled and this includes a requirement for £5million public liability insurance, proof of which will be required with the application…’

Denbigshire County Council:

‘…Public liability insurance to the value of £5million is required. This can be covered by the contractor carrying out the work…’

Surrey County Council:

A request must be accompanied by the following essential information:

Proposed location of bunting
Date of installation and date of complete removal
Certified copy of current certificate of public liability insurance for £5 million
Description of type of bunting to be used
The contact details of the applicant, i.e. their fixed and mobile telephone numbers, e-mail address and postal address, so that they can be contacted 24 hours a day
Method statement for installation, maintenance and removal of bunting
Copy of written consent from the owner(s) of the fixing points to use them (where applicable)
Copy of the current structural adequacy certificate (obtained from owners of the fixing points)

One council that simplified the paperwork

Hampshire County Council:

While Hampshire is one of the councils that does require a £10million public liability insurance, they have also tried to simplify the party planning process:

A spokesman said: ‘Residents planning small scale street parties to celebrate the Queen’s Diamond Jubilee will be pleased to hear that Hampshire County Council has made arrangements to ensure they can do so with the minimum of fuss.

‘Provided the street is not a through road and no more than 500 people are attending, the County Council has agreed that the only permission it needs to be asked for is a licence to hang bunting from lamp posts.

‘This is so that there is a nominated organiser who can be relied on to organise the removal of the bunting after the event. People can apply online for a bunting licence to permit the hanging of bunting and flags on or over the highway.’

Leader of Hampshire County Council, Councillor Ken Thornber, commented: ‘We have built on the arrangements put in place for last year’s Royal Wedding.

‘I know that many people got into the celebratory spirit to hold street parties with neighbours, friends and relatives and we want to make sure they can do so all over again for the Diamond Jubilee with the minimum of bureaucracy.

‘Even more people may be spurred into organising a party in the street where they live if they know that they can do so without having to deal with a lot of ‘red tape’ and particularly as we are being given the gift of an extra bank holiday.’

 
[[[ *** RESPONSE *** ]]]

Profiteering collusion between insurance companies and the local council. Why do the English vote such people into power??? If the people say that this law is ILLEGAL (all likelihood it is by ethical considerations) then the law is illegal. Ask during Local Council Elections (in fact pose as salesmen for various rubbish/swag items) before you vote for your Councillor their views on such insurance purchases. If they all for this sort of CHEATING, then they AND their associates are unvotable. Certain types of insurances are reasonable provided there is no collusion of there are no casual or friendship contacts to prevent conflict of interest, but a 5 million insurance for bunting?!? Ethics alert! Fire the lot of profiteering parasites!

Humiliation of the French: After lecturing Britain on its finances, France is stripped of its gold-plated AAA credit rating – by Hugo Duncan Last updated at 3:50 AM on 14th January 2012

In Uncategorized on January 14, 2012 at 6:18 am

France, along with eight other countries have been downgraded
Germany, Holland, Finland, Luxembourg, Estonia, Ireland and Belgium remain unchanged
Italy reduced two notches to BBB+
Banks fail to reach deal for Greece to halve privately held debt burden
Analysts warn that Britain may still be downgraded

France was stripped of its coveted AAA credit rating last night in a crushing humiliation for President Nicolas Sarkozy.

The downgrade of Europe’s second largest economy – along with eight other Eurozone countries – came just a month after a bitter war of words broke out between Paris and London over the relative health of the French and British economies.

The row followed Prime Minister David Cameron’s historic decision to veto a European treaty to deal with the crisis affecting the euro.

Senior French politicians and the country’s top central banker insisted it should be Britain, not France, that should be stripped of the gold-plated AAA rating.

But last night, ratings agency Standard & Poor’s delivered its verdict – and it made dismal reading for Mr Sarkozy ahead of the French presidential election this spring.

The French downgrade by one notch to AA+ was met with muted glee in Downing Street and the Treasury, where officials have grown tired of Mr Sarkozy’s grandstanding over the economy and his attempts to undermine Britain at the EU summit before Christmas.

Allies of the Prime Minister and Chancellor refused to make public comments, but one described a ‘mood of quiet satisfaction’ that Britain’s strategy of announcing spending cuts to reassure the financial markets and the credit ratings agencies ‘has been vindicated’.

DOWNGRADED EUROZONE COUNTRIES

By one notch:
France
Austria
Malta
Slovakia
Slovenia

By two notches:
Cyprus
Italy
Portugal
Spain

UNCHANGED EUROZONE COUNTRIES

Belgium

Estonia

Finland

Germany

Ireland

Luxembourg

Netherlands
COUNTRIES (GLOBALLY) STILL WITH AAA RATING

UK
Australia
Canada
Denmark
Finland
Germany
Hong Kong
Liechtenstein
Luxembourg
Netherlands
Norway
Singapore
Sweden
Switzerland

France has been rated AAA for the last 36 years and S&P’s decision is a major setback to the President’s hopes of re-election.

Analysts said the top-notch score was no longer appropriate due to the country’s towering debts, weak economy, and the crisis gripping the single currency.

The AAA rating – still held by the UK – allows countries to borrow cheaply on the international money markets and is seen as crucial to hopes of economic recovery.
Standard and Poor’s credit rating system

Higher interest rates for the government will push up the cost of borrowing for businesses and households and hamper economic growth.

The French downgrade cast fresh doubt over the firepower of the European Financial Stability Facility, the eurozone bailout fund.

It could make it harder for the EFSF to raise enough money to prop up Greece, Ireland and Portugal, and severely dent hopes that Italy and Spain can be protected.

Italy had its rating downgraded by two notches, to BBB+ as nine eurozone countries had their long-term rating cut to some degree.

S&P also downgraded Austria from AAA to AA+ but left the eurozone’s four other top-rated countries – Germany, the Netherlands, Finland and Luxembourg – unchanged, along with Estonia, Ireland and Belgium.

Other eurozone countries with lower credit ratings, including Spain and Italy, also face further downgrades.

The euro sank by around 1 per cent. It hit a new 16-month low against the dollar of $1.263 and dropped against the pound to just above 82p, the lowest level since September 2010.

Kathleen Brooks, a research director at currency firm Forex.com, said the downgrade could tip the balance in favour of Mr Sarkozy’s presidential rival, Socialist Francois Hollande.

‘It won’t do Sarkozy’s approval ratings any good and could give Hollande a boost,’ she said.

‘However, the markets may not react well to a Socialist French President, especially when France needs urgent structural economic reforms to bring its public finances under control.’

The French Government insisted the country could continue to meet its debt obligations.

‘France today is a safe investment, it can repay its debts and the news concerning our deficit is better than expected,’ said Budget minister Valerie Pecresse.

But the French ten-year bond yield – the benchmark measure of the interest rate investors demand to lend to the government – was stuck above 3 per cent last night.

By contrast it was below 2 per cent in Britain, which has emerged as a safe haven while the single currency crisis rages.

Analysts warned that France and Austria will not be the last AAA-rated countries to be downgraded, and that Britain could be hit. S&P downgraded the U.S. last summer.

Graham Neilson, of asset management firm Cairn Capital in London, said: ‘This is just the start.

‘There will be more to come and not just in Europe – there is simply still too much debt and not enough growth in developed economies.

‘The handbag-waving that took place last year between France and the UK may be settled with a UK downgrade later this year.

‘Ultimately this is a good thing. One of myriad reasons for this debt pile-up is the perception that developed Western government debt, particularly within the eurozone, is risk-free. It is not.’

The French and Austrian downgrades came as talks between Greece and its lenders over a possible 50 per cent write-off of its debts stalled.

Mr Sarkozy is only 2 per cent in front of far-Right nationalist leader Marine Le Pen as she bids to become French President, a poll shows today.

It puts Le Pen on 21.5 per cent and Sarkozy on 23.5. The front runner on 27 per cent is the Socialist candidate, Mr Hollande.

Time is running out for Greek government

Meanwhile, in Greece, banking representatives have warned time is running out for the Greek government, which today held a second day of talks with private bondholders on the crucial debt relief deal.

They said that if a deal to roughly halve its privately held debt burden – which would unlock more bailout funds – is not struck soon then the country could go bust.

That, it warned, would send shockwaves throughout the global economy. The negotiations came ahead of a visit on Monday by international inspectors monitoring Greece’s austerity program.

Greece’s Prime Minister Lucas Papademos
Greek Minister of Finance Evangelos Venizelos

Under pressure: Time is running out for Greek Prime Minister Lucas Papademos (left) and Finance Minister Evangelos Venizelos (right) to seal a crucial debt relief deal

The private debt deal is a key part of Greece’s second international bailout, worth a total 130 billion euro, which tops the initial 110 billion euro programme agreed in May 2010 to keep the country solvent after its borrowing costs soared to unreachable heights.

Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos met Charles Dallara and Jean Lemierre of global banking body the Institute of International Finance today.

After a first round of talks yesterday, a senior Greek finance ministry official said a deal could be struck by the end of next week, with a formal public offer coming at the beginning of February.

But a statement from the IIF warned that ‘some key areas remain unresolved’, and stressed that ‘time for reaching an agreement is running short.’
GERMANS SAY GREECE SHOULD NOT BE ALLOWED TO GO BANKRUPT

A poll in Germany today revealed half of its citizens did not believe Greece should be allowed to go bankrupt.

In contrast 41 per cent of Germans asked said other eurozone countries should let Greece go bust.

Only 15 per cent thought a Greek bankruptcy would be economically good for Germany, while 69 per cent believed it would be detrimental, the survey found.

The poll of 1,359 people was conducted for ZDF television between Tuesday and Thursday.

It gave a margin of error of plus or minus 3 points.

Frederic Oudea, chief executive of French bank Societe Generale, which holds a substantial amount of Greek debt, said negotiations could finish in the next few days and private creditors might end up accepting losses even larger than the target of 50 per cent.

He added: ‘But we have to be careful to maintain a balance because even if governments are saying that Greece will be a unique case, it will be instructive to investors.

‘It could become a ‘cautionary tale’ that could weigh on other countries.’

The talks are being complicated by the large number of actors involved in the broader bailout deal.

Not only the Greeks and the IIF, but the 17 countries that use the euro and the International Monetary Fund who will have to fund the payments to the private creditors also have to sign off.

That is complicating reaching an agreement on contentious issues, such as what interest Greece will have to pay on the new, lower-value bonds, according to people familiar with the talks.

The interest rate is key to determining the cost of the second bailout for Greece’s official creditors – the eurozone and the IMF.

In contrast to the face value of the bonds, which may not have to be repaid for many years if the restructuring works, the interest has to be paid from the very start.

One person briefed on the talks said there is disagreement among eurozone governments on how much interest Greece should pay – with some pushing for an interest rate as low as 3 per cent. That would be very little for bonds that are paid off in 20 to 30 years’ time.
The two-year-old Greek debt crisis, which followed revelations that Athens had been under-reporting key data on its bloated budget deficit and public debt, has shaken the eurozone and roiled financial markets.

Greece’s foreign ministry today said German Foreign Minister Guido Westerwelle will visit Athens on Sunday for talks with Foreign Minister Stavros Dimas. Westerwelle is also expected to meet with Papademos.

Germany is a key contributor to Greece’s rescue loan program. Athens will only continue to receive the loans if it satisfies inspectors from the European Union, the European Central Bank and the International Monetary Fund that its austerity program is working.

Talks: German Foreign Minister Guido Westerwelle (left) and Greek Foreign Minister Stavros Dimas (right) will be in Athens on Sunday for a meeting

But the 2011 budget deficit is expected to overshoot targets, while the pace of promised reforms remains sluggish. The inspectors, collectively known as the troika, are expected to arrive in Athens next Tuesday.

Over the past two years, Greece has slashed pensions and salaries while repeatedly hiking taxes, in a deeply unpopular program that has sparked a string of general strikes and often violent protests.

Last week, Papademos urged unions to accept further income losses, warning that bankruptcy and an ignominious exit from the euro could otherwise follow.

And today he told Parliament: ‘If the country does not manage to confront its debt crisis and the economy’s structural weaknesses, the consequences for standard of living of workers and pensioners will be dramatic.

Trouble: Fellow eurozone members Ireland and Portugal have also been forced to take international bailouts, with the threat of contagion rattling Europe’s economy and battering the euro

‘It is preferable to have open businesses with slightly lower wages … than closed businesses.’

He said some 38,000 businesses have closed since 2009. Unemployment hit 18.2 per cent in October, while the economy is heading for a fourth year of recession.

Papademos said, however, that it would be hard to further cut the lower end of salaries and pensions, and promised ‘tough negotiations’ with debt inspectors on labor reforms.

He added: ‘But our ability to negotiate is linked with … our own ability to address the sources of our problems.’

Far-reaching implications of downgrade

In the run-up to the last meeting of EU leaders on December 9, S&P said it was putting 15 of the eurozone’s nations on notice for a downgrade.

A downgrade of the eurozone’s triple A nations could have far-reaching implications, potentially complicating the ability of Europe’s bailout fund, the European Financial Stability

Facility, or EFSF, to provide support to struggling countries. France is a major contributor to the EFSF.

Rumours of the downgrades provide further evidence that investors in the markets remain jittery despite some positive signs over Europe’s debt crisis this week.

Auctions from the likes of Italy and Spain have gone smoothly while the European Central Bank’s chief noted signs of economic stabilization.

Louise Cooper, markets analyst at BGC Partners, said: ‘This rally is not built on solid foundations so this (selling) is indicative that underlying there’s not much confidence.’ Standard & Poor’s refused to comment on the speculation.

Nevertheless, the market response to the speculation was fairly savage across all markets.

In Europe, Germany’s DAX was down 1.7 per cent at 6,075 while the CAC-40 in France fell 1.4 per cent at 3,156. The FTSE 100 index of leading British shares was 1.3 per cent lower at 5,588.

Meanwhile, the euro was 1.4 per cent lower at $1.2644, its lowest level since September 2010.
In the U.S., the Dow Jones industrial average was 1.1 per cent lower at 12,330 while the broader Standard & Poor’s 500 index fell 1.2 per cent to 1,280.

Though the pickup in the stream of U.S. earnings will impact markets over the coming days and weeks, Europe’s debt crisis is likely to remain the main focus.

Europe’s crisis sprang from worries that countries had taken on more debt during boom years than they could pay back once their economies slowed.

Those concerns led investors to demand astronomically high yields or interest rates to lend money to countries like Greece, Ireland and Portugal, eventually forcing those three to seek bailout loans, rather than rely on market financing.

In recent months, it has seemed as if Italy would join that ignominious club, but that would present an insurmountable challenge: Italy’s economy dwarfs the three that have sought rescues and Europe can’t afford to bail it out.
 

[[[[ *** REPONSE ** ]]]

I loled when I saw this. Don’t be dishonest Duncan. This is simply Anglo outfits run by England retaliating against France for being scolded. This article writer needs to respect the

article readers abit more and stop being so narrowly communal. If England is bad in finances and France wants to unload a few hundred years of insults including the fall of Monarchy and

Napoleon’s defeat at Waterloo, France can jolly well do that without article writers propagandising and twisting facts like this. It’s retaliation by a non-neutral biased ‘rating agency’

(currency/fiat collusion agency). Come on Hugo, do an honest rewrite!

To be fair this is how the ‘Rating’ Agency should work :

RATING AGENCIES    MAY RATE ALL REGIONS EXCEPT OWN REGION / MAY ONLY BE STAFFED WITH LOCAL ETHNICITIES for example :

Canada/Americas    can rate all the below but noyt Canada/Americas :

South Americas
North Atlantic Isles
Europe
Africa
Middle East
Central Asia
Far East Asia

North Atlantic Isles (including England) can rate all the below but not North Atlantic Isles :

South Americas
North Atlantic Isles
Europe
Africa
Middle East
Central Asia
Far East Asia

AND to have a rating listed or changed, ALL ‘Rating Agencies’ but the local ‘Rating Agency’ of the nation to be rated MAY NOT participate in determining the rating.

As the adge goes, ‘Self praise is no praise.’ In this case an attack on another is simply a inverse version of self praise. This is a biased article, and World Finance Bodies of any self respect at all should consider the above suggestions of non-local based ratings staffed and headed entirely by local ethnicities. Otherwise as the English would say, this was just wanking (at France in this case) . . .

It is the Anglo tin plated ratings agencies that humiliated itself by these unethical actions not France that was humiliated.

AAA is for any nation which has reserves equivalent to GDP

AA is for any nation which has had ZERO DEBT for 10 years
A for any nation which has had ZERO DEBT for 3 years

B for any nation which has 100 million DEBT

B minus for any nation which has 1 billion DEBT
C for any nation which has 10 billion DEBT

C minus for any nation which has 100 billion DEBT
D for any nation which has had 1 trillion DEBT

D minus for any nation which has had 10 trillion DEBT

E for any nation which has DEBT which is unreturnable but they still retain autonomy
F for any nation which is a failed state from DEBT and falls under IMF type bodies in permanent debt slavery (methinks there are a few already . . . )

Tell it like it is you misrepresenting agencies! Overhaul the system, ANY nation with ANY DEBT does not deserve any **A** EVER!!!