Standard and Poors cuts France’s rating

This Friday morning, the most followed rating agency, has reduced from AA+ to AA the French credit rating.

After the announcement, we’ve heard a lot of reactions: French Finance Minister Pierre Moscovici in a statement deplored “the critical and inexact judgements” made by the agency. And Prime Minister Jean-Marc Ayrault said that “France’s ratings remain among the best in the world” and that the agency “does not take into account all the reforms” carried out by the government.

In front of them, the right-wing UMP party leaders charged the socialist government as responsible for this downgrading. Jean-François Copé, UMP leader, or Valérie Pécresse, budget minister under Mr. Sarkozy, told Europe 1 radio station on Friday that the downgrade was “a real warning for the government, they’ve got to change course.”

 A tough decision for the French president who is already in a difficult situation. He is troubled by French issues, as red hats breton rebellion, and also international problems, as terrorist attacks in Mali and the death of two French journalists in that country earlier this week.

Nicolas Santucci, IEJ 3G1