France’s ailing economy has been delivered another blow as ratings agency Standard and Poor’s lowered its outlook from “stable” to “negative,” saying its financial recovery is “elusive.”
France's credit rating remains at “AA” – the third highest rating – though S&P indicated that could change in the next two years if France’s fragile financial situation worsens.
The ratings agency expects government deficits will take up an increasingly large portion of the country’s GDP, and has lowered its growth forecast from 2.5 per cent by 2017 to 2 per cent.
S&P’s decision comes after economic projections from the International Monetary Fund that said Britain would overtake France as Europe’s second biggest economy by 2015.
Britain, which has an “AAA” credit rating and a “stable” outlook according to S&P, is expected to grow 3.2 per cent this year and 2.7 per cent in 2015 compared to France’s predicted growth of 0.4 per cent and 1 per cent.
Those growth projections would put the UK economy at £1.9 trillion, and France at £1.8 trillion.
The situation is not so dire at the moment, S&P said, pointing to France’s high income per capita and productivity, and the recovering competitiveness and profitability among French companies.
France finance minister Michel Sapin said in a statement: "We will pursue the needed reforms, to boost our medium term growth prospects
"French debt is one of the surest and most liquid in the world, with debt levels very much contained.”
France’s credit rating was downgraded to “AA” in November 2013, but that remains a strong indication of the country’s economy strength, underpinned by low-levels of household debt and high levels of private-sector domestic savings.
Cheese eating departure monkeys.
Re: Cheese eating departure monkeys.
“If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and weren't so lazy.”
Re: Cheese eating departure monkeys.
You're really not very bright, are you? It must be your British fascination with the firm, muscular, curvacious male posterior.
Any loss of economic superiority by the noble French to the English is only temporary, as this graph clearly shows:
Perhaps if you weren't such a stupid mother fucking cunt who is blinded by hatred you would see this. Try being less hateful, asshole.
yrs,
rudebato
Any loss of economic superiority by the noble French to the English is only temporary, as this graph clearly shows:
Perhaps if you weren't such a stupid mother fucking cunt who is blinded by hatred you would see this. Try being less hateful, asshole.
yrs,
rudebato
Re: Cheese eating departure monkeys.
but I am napoleon!
rubateaux
rubateaux
Re: Cheese eating departure monkeys.
that post was very hurtful jim....
I was promised to be taken to see bedknobs and broomsticks when I was five and it never happened. I was devastated
I was promised to be taken to see bedknobs and broomsticks when I was five and it never happened. I was devastated
Re: Cheese eating departure monkeys.
Delete has a time limit on it since we had a problem poster a few years ago.
Is the politest way I can put it.
Is the politest way I can put it.
Re: Cheese eating departure monkeys.
yeah, that s a good idea. does edit have one too? there was a fellow on another site who would make inflammatory remarks , then go back and edit them to seem innocent after getting his desired response
Re: Cheese eating departure monkeys.
Wes, the delete button goes away after a few minutes. You have up to a week to edit a post, then that option goes away.