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Tuesday, 20 December 2011
France will calm deal with relegation risk
Topic: business,society

French President nicolas sarkozy said on Wednesday, even though the international credit rating agencies cut the AAA sovereign rating in France, the French will also to respond calmly and the demotion of not unable to overcome difficulties caused. Previously, the big three rating agency moody's and s&p, fitch ratings, pointed out that, 9, at the summit, European Union, the euro-area economy rating is still there was cut risk. Sarkozy 12,, in accept as enticing as, the French government is expected to economic growth in 2012 to 1%, even if the economy grew only 0.5%, France also is expected to cut the deficit target. But sarkozy ruled out cutting civil service salary or pension may. He expresses at the same time, the French government for the country's banking restructuring will not put into money. Sarkozy think, 9, the eu summit, 26 countries to finance new rule reached an agreement, the rating agency warned made part of the response, France and Germany, the two countries have to avoid the eurozone collapse made best. He says: "should see a new Europe is born, economic convergence, budget and finance rules will become the key words of the euro zone." But he is still on the debt crisis cautious about the outlook, "I hope to be able to announce the dangers have completely over, but it is not down this judgment". At the same time, sarkozy admit, Britain refused to modify the eu treaty, forcing the other European Union 26 countries set up other financial new testament, will cause some degree of influence, "now obviously there are two European, one is to strengthen unity and normative Europe, another is to stick to a single market of Europe". 9 before the eu summit, the s&p will the euro area 15 members sovereign rating, the European Union AAA rating, the European financial stability tools (EFSF) rating and several European Banks rating into negative watch list. The European Union after the summit, three rating agencies have said, at the summit enough to cope with the debt crisis. Fitch ratings 13 release report points out, the debt crisis and comprehensive solution "has not yet ready", the European Union summit to plan failed to fundamentally relieve pressure, short-term pressure will last.

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Posted by terminalcables at 1:41 AM EST

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