Keyword: Triple A
Ratings agency Standard & Poor’s announced Friday that it had downgraded France’s triple-A credit rating to AA+. Mediapart editor François Bonnet argues here that the downgrade has stripped bare President Nicolas Sarkozy’s attempts, as he prepares to announce his candidature for re-election in April, to hide the amplitude of the economic crisis and his own failures in Europe and at home.
Europe plunges into a fresh crisis after France was stripped of its coveted AAA rating in a mass downgrade of at least half a dozen eurozone countries.
French finance minister François Baroin has confirmed that France has lost its top AAA credit rating from ratings agency Standard & Poor's.
Ratings firm Fitch says France is not in crisis and it will not downgrade its triple-A rating unless its debt is sharply increased by eurozone woes.