France is downgraded to AA+ by Fitch which joins S&P and Moody's in removing the country's...


France is downgraded to AA+ by Fitch which joins S&P and Moody's in removing the country's AAA rating. "Risks to the agency's fiscal projections lie mainly to the downside, owing to the uncertain growth outlook and the ongoing eurozone crisis." There's a bit of activity, but equities and the euro (FXE) are mostly snoozing through the news. French equity ETF (EWQ -1.1%) remains about where it opened the session.

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Comments (10)
  • davidshelton
    , contributor
    Comments (362) | Send Message
     
    "Apres moi le deluge....."
    12 Jul 2013, 01:47 PM Reply Like
  • Swisser999
    , contributor
    Comments (143) | Send Message
     
    Whoever first said that the French were lazy socialists...was right
    12 Jul 2013, 01:49 PM Reply Like
  • Bouchart
    , contributor
    Comments (1099) | Send Message
     
    We have that problem here in the states, too.
    12 Jul 2013, 02:04 PM Reply Like
  • mickmars
    , contributor
    Comments (1312) | Send Message
     
    We can print money here, though. No worries, right?
    13 Jul 2013, 08:32 AM Reply Like
  • Jason Burack
    , contributor
    Comments (2146) | Send Message
     
    The Socialists/Communists over in France are running out of OPM to keep their government and union run economy going!
    12 Jul 2013, 02:27 PM Reply Like
  • SoCalNative+(RIP)
    , contributor
    Comments (651) | Send Message
     
    shocker.
    12 Jul 2013, 04:21 PM Reply Like
  • Drift3r
    , contributor
    Comments (5) | Send Message
     
    They can't tax their way out of the mess created by their government because there aren't enough wealthy people in France who would be dumb enough to take their draconian tax hike attempts on the chin.

     

    Spending cuts and liberalization of wage and hiring laws will have to occur in France for any real meaningful turn around in their economy to occur. Otherwise they'll be in for a rude awakening. However it is said that the lessons of the past have to be repeated over again so as demonstrate to every generation the limits and failures of out of control government spending.
    13 Jul 2013, 03:52 AM Reply Like
  • American in Paris
    , contributor
    Comments (5495) | Send Message
     
    The problem is that the French Left still denies the reality that their economic problems of their own making. They still indulge in blaming the well off, the successful, and the rich.
    13 Jul 2013, 07:20 AM Reply Like
  • mweaver
    , contributor
    Comments (199) | Send Message
     
    sounds like the left here in the usa
    13 Jul 2013, 09:57 AM Reply Like
  • sethmcs
    , contributor
    Comments (3543) | Send Message
     
    Fitch is a French company. This really says something.
    13 Jul 2013, 05:07 PM Reply Like
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