Thursday 8 December 2016

France may lose its AAA status before christmas

Published 18/12/2011 | 05:00

FRANCE could be stripped of its triple-A credit rating before Christmas, raising new doubts about the survival of the euro, analysts predicted last night, writes Toby Helm.

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Standard & Poor's -- one of the three top rating agencies -- is expected to cut France's rating within days in a move that would weaken the country's ability to raise funds on financial markets. The move would also pose further questions about the future of the single currency at a time when no one is sure whether the deal thrashed out in Brussels 10 days ago is the big breakthrough hoped for in advance of the summit.

The imminence of a ratings decision by S&P may explain why France has sought to deflect attention in recent days by lashing out against Britain, claiming that the UK's financial position is weaker than its own.

© Observer

Sunday Independent

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