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France hit with second credit downgrade
 
French Socialist presidential frontrunner Francois Hollande wants Europe to quit focusing so heavily on the austerity measures championed by Nicolas Sarkozy and Angela Merkel.
French Socialist presidential frontrunner Francois Hollande wants Europe to quit focusing so heavily on the austerity measures championed by Nicolas Sarkozy and Angela Merkel.
REUTERS

Moody's Investors Service stripped France of its triple-A credit rating in the wake of a controversial article in the British Economist magazine saying that the country is "the time-bomb at the heart of Europe" because President Francois Hollande has failed to reform bloated government agencies. Standard & Poor's Ratings Services downgraded France in January, leaving Fitch Ratings as the only major credit analyst that still gives France top marks for its credit worthiness.

 

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