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France warns on credit rating
Posted By admin On May 31, 2010 @ 4:12 am In Money Watch | Comments Disabled
May 31, 2010
France admitted on Sunday that keeping its top-notch credit rating would be “a stretch” without some tough budget decisions, following German hints that Berlin may resort to raising taxes to help bring down its deficit.
Euro zone trade unions are preparing for possible confrontations in the coming week if governments impose austerity measures or labor reforms unilaterally.
But ministers made clear they were ready to take unpopular steps to prevent the Greek debt crisis spreading to their economies, although doubts are growing about whether the Spanish government in particular has enough support to get its way.
Budget Minister Francois Baroin indicated on Sunday that France should not take for granted its AAA rating, which allows Paris to borrow relatively cheaply on international markets and finance its big budget deficit.
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URLs in this post:
 Reuters: http://www.reuters.com/article/idUSTRE64R35J20100530
 Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502
 Eurozone back on the brink as France has credit rating downgraded: http://www.prisonplanet.com/sp-downgrade-of-france-others-imminent-reports.html
 United States tipped to lose another AAA credit rating: http://www.prisonplanet.com/united-states-tipped-to-lose-another-aaa-credit-rating.html
 S&P Issues a Warning on Japan’s Credit Rating: http://www.prisonplanet.com/sp-issues-a-warning-on-japans-credit-rating.html
 Debt deal agreed but may not save US AAA credit rating: http://www.prisonplanet.com/debt-deal-agreed-but-may-not-save-us-aaa-credit-rating.html
 America Loses AAA Credit Rating (Being The Military Superpower And Money Printer In Chief Did Not Protect Our Credit): http://www.prisonplanet.com/america-loses-aaa-credit-rating-being-the-military-superpower-and-money-printer-in-chief-did-not-protect-our-credit.html
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