Britain Loses It's Triple A Rating

Calls For Osborne To Quit As Britain Loses Cherished AAA Credit Rating And Is Downgraded For The First Time In 35 Years To Same Level As France Over Fears Of Triple-Dip Recession -- Daily Mail

* It is the first time since 1978 that the Britain has seen its rating dropped from AAA
* Britain had been placed on 'negative watch' by all three of the big rating agencies
* But Chancellor Osborne remains bullish and says it only reinforces Britain's need to improve
* The UK is now at the same rating level as France
* Shadow Chancellor Ed Balls describes the move as a 'humiliating blow' to Osborne

There are growing calls for Chancellor George Osborne to quit after the UK lost its cherished AAA credit rating despite the Coalition's efforts to cut the deficit.

Moody's, one of the three main credit ratings agencies, announced that it was cutting Britain's rating to Aa1, one notch below the top grade, dealing the government a massive economic blow.

It is the first time since 1978 that the UK has seen it's rating dropped from the AAA level.

The UK has long trumpeted its AAA rating as evidence that the country is economically stronger than the beleaguered eurozone.

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More News On Britain Losing It's Triple A Rating

Moody's strips Britain of triple-A rating in major blow to Osborne -- Reuters
Ratings agency Moody's downgrades UK from AAA to AA1 -- Deutsche Welle
UK loses top AAA credit rating for first time since 1978 -- BBC
Moody's downgrades UK rating from AAA to AA1 -- Business Today
George Osborne under pressure as Britain loses AAA rating for first time -- The Guardian
U.K. Loses Top Aaa Rating From Moody’s as Growth Weakens -- Bloomberg Businessweek
Why Britain lost its AAA rating -- Fraser Nelson, Spectator

My Comment: Tax and spend. Tax and spend. Tax and spend. What do you think is going to happen.