Credit Rating Downgrade Quotes

Brexit will lead to a flight of talent, money and taxes - and the country will have to take on more and more debt.

What you have in legacy countries is long-term insolvency.

How does the richest country in the history of the world fail to pay its bills?

There is a difference between strategic or technical default and default where you really don't have the economy to support the spending. We are not at that point yet. We could be. We could be, like some European nations.

We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.

A default of the US government would not only be very harmful here, it would probably send the country back into deep recession, but it just might crash the international financial system.

The full consequences of a default or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the cost, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.

Political leaders in Illinois kicked the can down the road, raised taxes, and ignored fiscal realities. Now, they're realizing the consequences of their actions: credit downgrades and negative outlooks.

When a company gets into trouble, it should basically have to be resolved, in other words, stockholders lose their money, unsecured bondholders lose their money.

I'm the finance minister of a bankrupt country!

How many muni areas have actually defaulted, by the way? Just a question.

Greece could default on its debts and even exit currency bloc if it cannot deliver reforms.

For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The shift to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.

The risk of policy contagion could be magnified if a new funding arrangement were agreed between Argentina and the IMF before a comprehensive policy framework is developed that addresses fundamental investor concerns.

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.