News Links: Economists see France losing AAA in 3 months
- Economists see France losing AAA in 3 months: Reuters poll | Reuters
France will lose its AAA credit rating early next year regardless of last-ditch efforts by President Nicolas Sarkozy to resolve the euro zone crisis at an EU summit this week, a Reuters poll of economists showed on Wednesday.
- GOP Candidates to Trump Debate: You’re Fired – Walt Cronkite – NationalJournal.com
Planned debate strikes some as a publicity stunt for the moderator.
- PayPal Continues War Against Regretsy, Freezes All Accounts & Halts Gift Exchange – The Consumerist
At this point, we would be shocked if the PayPal people to come out from their undersea lair to play nice and resolve the issue. The company is usually a safe bet to make the Worst Company In America bracket and we have a hunch this all but solidifies a high seed come tournament time.
- American Shoppers Are Back To Using Their Credit Cards – The Consumerist
In each of the first three quarters of 2011, credit card purchases continued to rise, up 10.6% in the third quarter alone. Meanwhile, debit card purchases are up, but nowhere near as steeply, with a third quarter increase of 5.9%. Obviously the numbers for the final quarter won’t be ready for some time, but this year’s Black Friday purchases showed a jump of 7.4% over 2010 numbers for credit cards and a 3.4% increase in debit card use.
- 1944 Massacre in France: German Police Raid Homes of Six Former SS Soldiers – SPIEGEL ONLINE – News – International
German officials have raided the homes of six former SS soldiers suspected of taking part in the massacre of 642 French civilians in 1944, prosecutors said this week. But the investigation may not get far. Little evidence was found, and the suspects were either unfit for interrogation or denied the allegations.
- Eurozone economy barely grew in third quarter – Telegraph
The eurozone economy hardly grew in the third quarter, the EU said on Tuesday, with collapsing business confidence and slowing industry pointing to a recession and giving the European Central Bank grounds for an interest rate cut this week.
- Ireland follows spending cuts with tax rises – Telegraph
Ireland will outline its tax plans on Tuesday, including an increase in value added tax, as part of its budget plans to reduce its debts.
- In their rush to save the economy, politicians forget about the people, and the gulf widens between rich and poor – Telegraph
Pensioners and parents are being forced into poverty. Who will be their champion?
- House prices slide but market stable, says Halifax – Telegraph
House prices fell by 0.9pc in November but the market remains stable, The Halifax said in its latest house price index.
- Sir James Dyson attacks China over designs ‘theft’ – Telegraph
Sir James Dyson says he has spent £3.5m fighting Chinese companies who stole his designs last year and even hired private detectives to spy on illegal Asian workshops where his bladeless fans are taken apart and copied.
- Wall Street protesters to occupy foreclosed homes | World news | guardian.co.uk
As encampment crackdowns continue nationwide, movement joins activist group to refurbish houses for homeless familes
- Former US economy tsar warns Britain risks catching the ‘US disease’ | Society | The Guardian
Jared Bernstein says the UK is following America down the road to excessive inequality
- Women main drivers of rising living standards | World news | The Guardian
Survey finds that a quarter of growth in household income between 1968 and 2008-09 came from women working
I agree that France will lose its triple A rated status, but I would also think that the Netherlands, Austria and Germany will also lose their AAA rating but later. That does not mean that Germany will default but it will be a riskier haven for hot money. Switzerland are also very vulnerable if there is another banking crisis. Its banks are still too big and unless the Swiss make it clear that they will not bail out its banks I can see them being dragged down the Irish route if there is a banking crisis and they guarantee its banks.