Daily Archives: January 16, 2012

Gideon Rachman

In my last post, I quoted an anonymous German decisionmaker saying that the ratings agencies were deliberately trying to destabilise the euro. But this kind of paranoia is now being spouted, on-the-record. This morning’s FT contained these two choice quotes. Martin Schulz, MEP, called the S&P downgrade “a targeted attack” on the euro, designed to distract attention from the US budget deficit. (That would be the same S&P that downgraded the US itself, over the summer?) Elmar Brok, another German MEP, said the agencies were pursuing “Angl0-American interests.” I do wish Brok would stop beating about the bush. Read more

Nigerian unions may have agreed to suspend strike action and call off protests after the government partially caved into demands for the restoration of the longstanding fuel subsidy. But President Goodluck Jonathan is not out of the woods yet. Read more