“In what will be a severe blow to Socialist president François Hollande, the agency said it was reducing the country’s rating from AAA to AA1, claiming France’s ability for economic growth was being hampered by ‘structural challenges’ including its lack of competitiveness, high unemployment, public debt and market rigidity. It said it was not confident Hollande’s government could – or would – introduce the necessary structural reforms and spending cuts to improved its rating in the medium term and expressed concern over France’s exposure to risks from other ailing eurozone countries.”
http://www.rawstory.com/rs/2012/11/20/moodys-downgrades-frances-credit-rating/
Related posts:
Little restraint in military giveaways to police
ObamaCare's architects reap windfall as Washington lobbyists
Cynical Senate moves to prevent Trump from removing US troops in South Korea
Jim Rogers: I am sceptical India government will deliver on promises
Apple Pay won't bite into bitcoin: Winklevoss
Relaxed One-child Policy Intensifies China Midwife Shortage
Could you live in 150 square feet? Cities try out micro-housing
3,000 Saudis urge Shura council to debate women’s driving
Show me the money: Hong Kong in "biggest ever" Bitcoin giveaway
Supreme court cellphone case puts free speech – not just privacy – at risk
CIA may target Syrian extremists with drones: LA Times
Eric Holder defends prosecution against Megaupload founder Kim Dotcom
Alan Greenspan Sees 'Double Digit' Inflation Ahead
Students say they will continue protesting ‘war criminal’ David Petraeus
Argentinian vet designs $3 IUD device to boost beef production