The agency Standard & amp; Friday Poor’s lowered to “negative” the outlook for the rating of the UK’s long-term debt, currently set at the highest notch AAA, citing risks to the referendum on British membership of the EU . European (EU)
Fitch it rather maintained the country’s rating to “AA +”, a level below that of the S & amp; P, with a stable outlook.
“The decision of the Conservative government (…) to hold a referendum on membership of the United Kingdom to the EU by 2017 represents a risk to the growth outlook and financial services export sectors, and for the economy in general, “said S & amp; P in a statement
.” We also believe that a possible start of the EU raises the question of broader funding deficits (fiscal and current accounts, ie) in the UK, “said the rating agency.
The change in perspective” negative “means that the country’s rating could be lowered in the short or medium term, although it is not a certainty, S & amp; P evoking “Probability of one in three in the next two years”
S & amp;. P is the only one of the three major agencies rating to confer its top rating on long-term debt of the United Kingdom. Moody’s awarded him the note “Aa1″ (stable outlook), the second best of his scale into account 19.
The conservative Prime Minister David Cameron, easily re-elected in the parliamentary elections of 7 May, promised to hold a referendum on whether to maintain the country into the EU by the end 2017. He said personally in favor of keeping, but as part of a reformed EU following a renegotiation of membership conditions of the country.
London wants to repatriate some powers including the name of the sovereignty of the British Parliament and harden the conditions of access to social assistance for EU nationals.
“Call for a referendum on membership in the EU will further expose the economic policy (government) to political politician “warned further S & amp; P, which sees a comparable situation with that prevailing in the United States when the agency had downgraded the US credit rating on parliamentary guerrilla background between Democrats and Republicans on the budget <. /> p>
The UK still has its triple-A
“The UK benefits from its open-economy status which, we believe, flourished under the EU. The country’s membership to the EU has allowed its economy to attract more cheap capital flows and skilled labor if it had not been a member of the single market, “yet . estimated the rating agency
“The significant immigration to the United Kingdom during the past decade has supported the economy and the budget” British, added S & amp;. P
The business community of the City of London are generally in favor of maintaining the EU, but the uncertainty caused by this call to the polls tend to worry the British employers.
Fitch did not want to move it, saying after holding the note “to make a final judgment of the impact of a possible EU exit to the sovereign debt is not possible at this stage as the contours of a possible exit scenario remains highly uncertain. “
” Negotiating the form of output would be long and complicated, “and” this uncertainty may in itself harm growth “has nevertheless warned competitor of S & amp; P
The Treasury minimizes
The Treasury has wanted to positive after the decision of S & amp;. P, noting first that the agency had maintained the “AAA” rating, which is according to him “an encouragement to the solid recovery favored by the government’s plan in the long term.”
“We are the first to say we are in a period of high risk that threatens the recovery, which is why we work to strengthen the stability of the economy, “he said.
” At the heart of this plan is the fact of giving the British people a say on membership of the EU for the first time in 40 years and resolve the uncertainty surrounding the UK’s relationship with the EU, “assured the Treasury .
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