Fitch warns of ‘uncertainty’ over SNP plans for currency union
The credit ratings agency Fitch has warned of instability if an independent Scotland were to remain part of a currency union with the UK.
The credit ratings agency Fitch has warned of instability if an independent Scotland were to remain part of a currency union with the UK.
In 2009, George Osborne said we need to “sit up and listen” to the threat to the UK’s AAA rating; today, he has tried to ‘play down the threat’ to our rating.
Alex Hern reports on the calls from the Party of European Socialists to regulate the credit ratings agencies, and considers what the problems with such regulation may be.
Alex Hern follows up yesterday’s economics round-up with another day of bad news. This time the OECD and Fitch have joined in, both predicting a slow-down.
Alex Hern asks why there is such silence from on the risk to democracy which the credit ratings agencies represent.