Saturday, January 14, 2012

Humiliation of the French: After lecturing Britain on its finances, France is stripped of its gold-plated AAA credit rating

France was stripped of its coveted AAA credit rating last night in a crushing humiliation for President Nicolas Sarkozy.

The downgrade of Europe's second largest economy - along with eight other Eurozone countries - came just a month after a bitter war of words broke out between Paris and London over the relative health of the French and British economies.

The row followed Prime Minister David Cameron’s historic decision to veto a European treaty to deal with the crisis affecting the euro. Read More