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Thread: Moody's Downgrades France

  1. #1
    Politics.ie Member sport02's Avatar
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    Default Moody's Downgrades France

    Don't think anyone expected this today. S&P was first to act, now Moody's.

    Linda Yueh ‏@lindayueh
    1st S&P now Moody's: #France downgraded from AAA, outlook remains negative: Long-term economic growth outlook negatively...
    zerohedge ‏@zerohedge
    France weakness: "gradual, sustained loss of competitiveness and the long-standing rigidities of its labour, goods & service markets" Moodys

  2. #2

    Default Moody's downgrades France, no longer Triple A

    News just broke 10 minutes ago. It appears President Hollande's Socialist Utopia vision isn't going to plan, what with real wealth creators exiting by the planeload, coupled with the crippling total debt and unsustainable social model France possesses.

    After hours shots fired, with Moody's hitting the long overdue one notch gong on France:

    MOODY'S DOWNGRADES FRANCE'S GOVT BOND RATING TO Aa1 FROM Aaa

    FRANCE MAINTAINS NEGATIVE OUTLOOK BY MOODY'S
    One Fewer In The AAA Club: Moody's Downgrades FrAAnce From AAA To Aa1 | ZeroHedge
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Ratings agencies are like FF, utterly irrelevant.

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    Politics.ie Member Hewson's Avatar
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    On a day when the markets were back in recovery mode.

    How peculiar. How predictable.
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    Politics.ie Member southwestkerry's Avatar
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    so much for super tax.
    A ship at harbour is safe but that is not what ships were built for.

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    Politics.ie Member sport02's Avatar
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    Owen Callan ‏@OwenCallan
    The Economist are obviously the big winner of the #France downgrade by Moody's tonight...impeccable timing...

    From two days ago.
    The time-bomb at the heart of Europe
    THE threat of the euro’s collapse has abated for the moment, but putting the single currency right will involve years of pain. The pressure for reform and budget cuts is fiercest in Greece, Portugal, Spain and Italy, which all saw mass strikes and clashes with police this week (see article). But ahead looms a bigger problem that could dwarf any of these: France.

    http://www.google.ie/url?sa=t&rct=j&...2s0dUtrhkDhSlw

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    Politics.ie Member gerhard dengler's Avatar
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    The Sunday Times suggested as much in yesterday's edition.
    Politics.ie moderators should moderate instead.
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    Politics.ie Member Mountaintop's Avatar
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    Think there's a bit of 'smooshing' required..

    http://www.politics.ie/forum/europe/...es-france.html

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    bloody hell - all we need now is the French going down

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    Let's hope Schauble goes ahead with his plans then.

    The French also need somebody else to manage their economy for them, it seems.

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