Are you in the Christmas spirit yet? today is the day that many businesses have their office party, known by paramedics as “Black Friday” as it ends up being one of their busiest nights of the year – today probably not helped by the sleet across the country.

It would seem that the head of the Bank of France or Banque de France, Mr Noyer, is clearly not in a Christmas mood, calling for credit ratings agencies to downgrade the UK ahead of France. This follows an interview given to Le Telegramme. It seems that rather than taking responsibility it is far easier to carp about others. On Monday Moody’s published an Outlook report on the French Banking sector which was not as golden as the Banque had hoped. France had “erroneously” had its credit rating downgraded earlier ion the year, which was then corrected.  This follows news from Paris that yesterday the court decided that Jacques Chirac was found guilty of embezzlement (specifically redirecting public funds) and whilst unable to remember anything (medics say his memory is poor – he is 79 years old) was given a suspended prison sentence.

One gets the sense that a number of European Governments will be looking to kick the proverbial cat and the UK seems a likely target due to Mr Cameron’s decision not to give control of Britain’s tax and financial system to the EU. One does wonder why the Europeans believe that they are so well qualified to act as guardians of the financial system when the Euro has clearly been a complete mess. Joyeux Noel!

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