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Thursday, Dec 15
2011, 1:07 PM
The row between France and the U.K. over AAA ratings continues, with shadow MPC member Andrew...
The row between France and the U.K. over AAA ratings continues, with shadow MPC member Andrew Lilco pointing out French government finances have little to do with it. It's the mammoth assets (and corresponding liabilities) of the French banks which the government could end up having to stand behind that has markets worried. The question is not whether France should be as high as the U.K., but whether it's "justified as higher than Italy's." (David Stockman earlier)