Friday, 13 January 2012

Humiliation of the French: After lecturing Britain on its finances, France is stripped of its gold-plated AAA credit rating

Daily Mail
"France was tonight stripped of its coveted AAA credit rating in a crushing humiliation for Nicolas Sarkozy. Leading ratings agency Standard & Poor’s cut the French credit score by one notch to AA+ in a major setback to the President’s hopes of re-election. The downgrade – on Friday the 13th – came just a month after a bitter war of words broke out between Paris and London over the relative health of the French and British economies. Fears are also rising that the credit ratings of several other eurozone countries could soon be downgraded - prompting global markets to fall and the euro falling to a 16-month low."

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