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Losing Triple AAA Not Hopeless
Source: Bloomberg News |
December 13, 2011, Tuesday
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Print Edition
Print Edition
PRESIDENT Nicolas Sarkozy said that the loss of France's AAA credit rating wouldn't be "insurmountable," according to an interview published in Le Monde newspaper.
If the rating companies "pull it, we'll face the situation coolly and calmly," Sarkozy was quoted as saying by the newspaper. "It would be an additional difficulty but it's not insurmountable. What is important is the credibility of our economic policy and our strategy of reducing spending."
Sarkozy also said that actions announced by the European Central Bank last week will help keep credit flowing to the economy and avoid a "depression."
If the rating companies "pull it, we'll face the situation coolly and calmly," Sarkozy was quoted as saying by the newspaper. "It would be an additional difficulty but it's not insurmountable. What is important is the credibility of our economic policy and our strategy of reducing spending."
Sarkozy also said that actions announced by the European Central Bank last week will help keep credit flowing to the economy and avoid a "depression."
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