Stig Östlund

lördag, december 17, 2011

Rumours swirl of French downgrade




Rumours are thickening like a noxious sauce that France is about to be walloped by its nemesis, Standard and Poor's for a downgrade of its jealously guarded AAA credit rating to join the US who suffered this particular humiliation back in the summer.
But there's no official announcement - that may come, fortuitously after the New York markets close. If that's the case, there's no better time to bury bad news, than on a Friday evening before Christmas when everyone is comatose at the Christmas party. Nevertheless if it happens it will have a negative impact on the markets, the uncertain future of the Euro, but most of all, the Gallic ego.

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