Category: United Kingdom

United Kingdom

Herr Oettinger seems a bit confused

Herr Oettinger doesn’t have any input into what the British credit rating is. The European Union doesn’t, nor even the European Commission or the European Central Bank. Any and all of them can refuse to deal with Britain, the British Government, and of course we all desire that they do. But a credit rating is not something determined by a government in the slightest. It’s a market response.

Tim Worstall