Originally Posted by KRONOS
According to all the old speeches from George Osborne that have been aired since Moody's downgraded the U K's credit rating in which he insisted that it was essential that Britain kept it's triple A rating, all of a sudden it does not seem to matter that the rating has been changed.
I think he meant the UK needed to be able to borrow at comparable rates to the US and Germany. Pre 2008 an AAA rating was the guarantee of that and it made for an easy sound bite. Not so much now.