Re: <nettime> It goes beyond the Meat Loaf Problem

[Geoffrey Goodell <goodell@oxonia.net>]

And this quote from Mark Mobius:

“Up to now, the UK is riding on the coat-tails of the EU, in the sense that
[the UK] can have very low interest rates,” Mr Mobius told the FT at an event
in New York this week hosted by the Emerging Markets Investors Alliance. “As
soon as they break, people are going to start looking hard and fast. The rating
agencies will say ‘wait a minute, no more EU association? We’ve got to
downgrade.’”

https://www.ft.com/content/ede38978-505f-11e9-b401-8d9ef1626294

On Tue, Aug 20, 2019 at 12:14:05PM +0100, Geoffrey Goodell wrote:
> On Tue, Aug 20, 2019 at 12:35:21PM +0200, Andr?? Rebentisch wrote:
> > If UK refuses to pay their financial obligations that is the equivalent
> > to state bankruptcy and would affect their bond ratings.
> 
> In any Brexit scenario, with a deal or without a deal, the UK will suffer from
> increased credit spreads and a concomitant cost increase in funding everything.
> 
> https://www.telegraph.co.uk/business/2018/09/14/uk-credit-rating-risk-fails-pay-brexit-bill-moodys-warns/
> 
> (Yes, the Telegraph!)
> 
> I am surprised this is not the focus of more discussion.
> 
> Geoff

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