According to the Sarkozy government, Standard & Poor's has downgraded France by one note from her prestigious AAA credit rating. This was announced after the CAC closed. Now, investors have the weekend to think about it...
Read an article in France.
Read an article in English.
Despite the fact that this could lead to significant problems for Europe as a whole (it's not just France who lost her AAA), Germany and France are saying that, in today's world, a AAA credit rating is less and less important. That's not what they were saying when the US was downgraded.
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It's official now: Les Echos (in French).
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