Thumbs down for France’s SP rating
Financial ratings agency Standard & Poor’s has pulled the plugs on France AA+ rating, bringing it down to AA. The government led by François Hollande has lost its margin for financial manoeuvre, reports Público newspaper, and unemployment remains high. But S&P’s thumbs-down isn’t changing the country’s policies. In a visit to the World Bank in Paris, President Hollande maintained France’s economic strategy is “the only one that assures credibility”. He said the proof of this can be seen in the low interest rates on the markets.