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France warns on credit rating

Posted By admin On May 31, 2010 @ 4:12 am In Money Watch | Comments Disabled

Reuters [1]
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.

Full article here [1]

France warns on credit rating 150410banner7 [2]

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URLs in this post:

[1] Reuters: http://www.reuters.com/article/idUSTRE64R35J20100530

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Eurozone back on the brink as France has credit rating downgraded: http://www.prisonplanet.com/sp-downgrade-of-france-others-imminent-reports.html

[4] United States tipped to lose another AAA credit rating: http://www.prisonplanet.com/united-states-tipped-to-lose-another-aaa-credit-rating.html

[5] S&P Issues a Warning on Japan’s Credit Rating: http://www.prisonplanet.com/sp-issues-a-warning-on-japans-credit-rating.html

[6] 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

[7] 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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