Posts Tagged ‘france credit rating’

France Has Credit Rating Downgraded By Standard and Poor’s as ECB Reduces Interest Rate

November 9th, 2013 Comments off

Continuing a two year trend that has seen the once AAA rating of French sovereign debt reduced, the ratings agency S & P announced it is cutting its rating on government debt from Paris to AA.  This decision flows from the moribund state of the second largest economy in the Eurozone, which is suffering from high unemployment, large public deficits and a failure to engineer strong economic growth.

The government of French President Hollande came to office on a pledge to create new jobs by defying the austerity trends of other Eurozone partners, in part to be financed by higher taxes. The populist message of Hollande, once translated into public policy, has failed to lift the French economy, and notwithstanding the boasts of politicians in Hollande’s administration, S & P clearly sees sovereign debt issued by France as being less credit worthy in the wake of current fiscal and economic policies.

In the meantime, the European Central Bank, which under its president, Mario Draghi, has followed in lockstep with the Fed’s Ben Bernanke in implementing a near zero interest rate policy (ZIRP), has just cuts its interest rate from half a percent to a quarter of a percent. The most recent rate reduction by the ECB, in conjunction with S & P’s lowering of France’s credit rating, demonstrates that the fiscal and economic woes in the Eurozone are far from over. The Eurozone crisis continues.

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

Hillary Clinton Nude


Hillary Clinton Nude


To view the official trailer YouTube video for “Wall Street Kills,” click image below:

In a world dominated by high finance, how far would Wall Street go in search of profits? In Sheldon Filger’s terrifying novel about money, sex and murder, Wall Street has no limits. “Wall Street Kills” is the ultimate thriller about greed gone mad. Read “Wall Street Kills” and blow your mind.

Spain’s Credit Rating Continues To Plummet; Is France Next?

October 20th, 2011 Comments off

In an earlier blog piece, I reported on the fact that ratings agency Fitch had dumped Madrid’s credit rating. Standard & Poor’s had also cut the Spanish government debt rating. Now Moody’s, the other major credit ratings agency, has joined the parade by dropping Spain’s rating by two notches. Furthermore, Moody’s added that France, currently with a AAA rating, faces acute danger that its rating may be dropped in the future.

The Eurozone debt crisis is clearly not being alleviated by the desperate machinations of the bumbling politicians. The crisis is getting worse, it is spreading, and along with that somber reality goes a rising tide of public anger and protest.  The sovereign debt crisis is currently impacting Europe with dire consequences for the entire global economy.



Officer Larry of the NYPD is on his way to Zuccotti Park in lower Manhattan to arrest peaceful protesters involved with the Occupy Wall Street movement. Being a public spirited member of the New York Police Department, Officer Larry does remind us that there is a global economic crisis underway that rivals the Great Depression of the 1930s.