“It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to resc”

“I have more engagement with New Zealand than people might think. Unlike the impression I have of the American president, who sits in the Oval Office and people come to them.”