FX.co ★ UK PM blamed for credit rating downgrade

Great Britain has recently seen its credit rating sink considerably. Moody’s slashed it from AAA to AA1 with a stable outlook. The UK had its rating cut amid sluggish economic growth and swelling debt burden dragging on the short-term economic prospects.
Experts of Fidelity Worldwide Investment blame all evils on the economic policy of UK Prime Minister David Cameron based on austerity and thus hampering growth.
Meanwhile, Ken Clarke, the minister without portfolio, finds the rating reduction quite expected. He thinks Great Britain will need time to regain its economic stamina. What is more, he pointed out that the British national currency may well fall.
At the same time, Moody's states that the UK's creditworthiness remains extremely high, that is why the outlook is stable.