Main content

The UK's Credit Rating is Downgraded

The UK economy has been downgraded from AAA status to AA by the credit rating agency Standard & Poors because a British exit would weaken UK policy making and affect its economy.

The UK economy has been downgraded from triple A status to double A by the credit rating agency Standard & Poors because a British exit would weaken UK policy making and affect its economy, growth and fiscal balances. Fitch has done the same and Moodys had already cut the UK's credit rating outlook to negative on Friday. Our economics editor Kamal Ahmed has been speaking to Standard & Poors' global chief rating officer for Sovereign Ratings, Moritz Kraemer.

We are joined by the Â鶹ÊÓƵAV's Mariko Oi in Tokyo as markets open across Asia.

And, joining us throughout the programme - in Singapore, Simon Long who writes the Banyan column in the Economist. From Washington DC, Diana Furchtgott-Roth, director of Economics21 at the Manhattan Institute for Policy Research and in Silicon Valley, Alison van Diggelen, host of freshdialogues.com

What will an eventual EU/UK trade deal look like? Angela Merkel has said "There will be no special treatment, there will be no gifts." Matthias Wissmann is the president of the German Association of Automotive Industry; Rob Young asks him what sort of trading relationship he wants to see between the UK and Germany. And our reporter, Joe Miller in Berlin has been talking to local leaders there.

How deep is the anxiety Stateside? Robert Hormats of Kissinger Associates was President Obama's Under Secretary for Economic Growth for four years up to 2013. He has been talking to the Â鶹ÊÓƵAV's Laura Trevelyan in Washington.

The phrase that has become most recurrent over the past five days has been perhaps the most obvious - Britain is a divided nation. The referendum campaign was divisive and bitter - and responses to the result have been similarly extreme - especially among those who voted Remain. Paul Moss reports.

(Photo: Traders in the Standard & Poor's 500 stock index options pit at the Chicago Board Options Exchange. Credit: Scott Olson/Getty Images)

Available now

50 minutes

Last on

Tue 28 Jun 2016 00:06GMT

Broadcast

  • Tue 28 Jun 2016 00:06GMT

Podcast