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Posted: 11/20/2012 6:28:59 AM EST

France's government has shrugged off the latest downgrade of its credit rating, saying Tuesday that it just needs time for reforms to the sluggish economy to take root.

In a setback for President Francois Hollande's Socialist government, Moody's Investors Service stripped Europe's No. 2 economy of it of its prized AAA credit rating late Monday on concerns that its rigid labor market and exposure to Europe's financial crisis were threatening its prospects for economic growth.

This is the second ratings downgrade to have hit France this year: Standard & Poor's agency lowered its score in January. The third leading agency, Fitch, still ranks France at AAA-rating but has had it on review for a downgrade since late last year.

http://www.breitbart.com/Big-Peace/2012/11/20/Downgraded-France-says-it-needs-more-time
Link Posted: 11/20/2012 6:45:22 AM EST
Not really a surprise.
Link Posted: 11/20/2012 6:46:07 AM EST
Same excuse everyone makes when they can't pay their bills.
Link Posted: 11/20/2012 6:48:03 AM EST
Haven't we been downgraded as well? I thought that would have been a big campaign issue, guess not.
Link Posted: 11/20/2012 6:48:44 AM EST
Originally Posted By Dale007:
Haven't we been downgraded as well? I thought that would have been a big campaign issue, guess not.


3 times.
Link Posted: 11/20/2012 6:50:20 AM EST
Originally Posted By Dale007:
Haven't we been downgraded as well? I thought that would have been a big campaign issue, guess not.


You kidding? Our country has ADD. That was important for about a day and then Kim Kardashian did something so the sheep changed their attention.
Link Posted: 11/20/2012 6:58:53 AM EST
Originally Posted By c22sickle:
Originally Posted By Dale007:
Haven't we been downgraded as well? I thought that would have been a big campaign issue, guess not.


You kidding? Our country has ADD. That was important for about a day and then Kim Kardashian did something so the sheep changed their attention.


Between Kim Kardashian and the public having no idea what being downgraded actually means I'm not surprised at all that it wasn't brought up on the campaign trail.
Link Posted: 11/20/2012 7:01:11 AM EST

Originally Posted By WinstonSmith:
Same excuse everyone makes when they can't pay their bills.

Headshot.
Link Posted: 11/20/2012 7:18:21 AM EST
Originally Posted By WinstonSmith:
Same excuse everyone makes when they can't pay their bills.


Yep.
Link Posted: 11/20/2012 7:23:30 AM EST
Not to worry, that 75% tax on millionaires should fill the French coffers right up...
Link Posted: 11/20/2012 7:48:15 AM EST
Originally Posted By WinstonSmith:
Same excuse everyone makes when they can't pay their bills.


Didn't 0 make the same excuse............
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