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North Cyprus News | What Credit Rating Would Standard and Poors give the TRNC?

I think we all grasped the fact that the whole world’s economy is in meltdown. I have even read recently that the snow in Britain will help the situation, now that really is clutching at straws or should I say, a load of snow ‘balls’.

With Standard and Poors threatening to downgrade 15 European Union members, our own neighbours already downgraded and under scrutiny, one has to wonder just what grade we would be given, if it were possible and if our existence was acknowledged. Not good that is for sure, when month after month money has to be borrowed to pay pensions and civili service salaries.

The property problems in the North and the South must be playing a significant part in the downturn in both sides fortunes and yet there still seems little sign of either side getting to grips with this problem. They ignore it and it will go away approach just is not working gentlemen.

Source:

http://www.cyprus-mail.com/cyprus/sp-threatens-downgrade-entire-eurozone/20111207

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