Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors? (Part Two)

Read more

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors?

Read more

THE INTERVIEW

Abbas Araghchi, Iranian deputy foreign minister

Read more

THE OBSERVERS

More of this year's best Observers stories

Read more

FOCUS

When water becomes a weapon of war

Read more

ENCORE!

Eve Ensler: 'In The Body Of The World'

Read more

THE INTERVIEW

Ed Husain, Author of 'The Islamist'

Read more

DEBATE

Pakistan Protests: Democracy put to the test

Read more

DEBATE

Pakistan Protests: Democracy put to the test (part 2)

Read more

  • IS video purports to show beheading of second US journalist

    Read more

  • Could France sell the Mona Lisa to pay off its debts?

    Read more

  • Video: Bodies ‘left behind’ as Ukraine forces flee rebel assault

    Read more

  • Trust and 'bio-disaster units' needed to fight Ebola

    Read more

  • France vows crackdown on unemployment benefit ‘abusers’

    Read more

  • Julie Gayet wins privacy case against French glossy Closer

    Read more

  • Germany blocks popular car pick-up service Uber

    Read more

  • Several UN peacekeepers killed in Mali explosion

    Read more

  • NATO plans new 'spearhead' force to counter Russia

    Read more

  • French clubs left behind as others spend big

    Read more

  • Britain drops arrest warrant for ill boy’s parents

    Read more

  • When water becomes a weapon of war

    Read more

  • Arab media strike back at IS Islamists – with cartoons

    Read more

  • US military targets Somalia's al Shabaab Islamist group

    Read more

  • Eve Ensler: 'In The Body Of The World'

    Read more

  • Boko Haram Islamists seize northeast Nigerian town

    Read more

  • Is Carla Bruni against a political comeback for Sarkozy?

    Read more

  • Monaco’s Falcao leaves Ligue 1 for Man Utd

    Read more

France

France at 'no risk' of credit downgrade, says government

Video by FRANCE 24

Text by News Wires

Latest update : 2010-11-30

France is "at no risk" of a credit downgrade despite its ballooning budget deficit, according to Budget Minister Francois Baroin (pictured).

AFP - France foresees "no risk" that its credit rating could be downgraded, the government's chief spokesman said on Tuesday, amid fears that government debt could undermine economies across the eurozone.

France still enjoys the maximum AAA credit rating, despite market concerns over its burgeoning public deficit, and Budget Minister Francois Baroin told reporters the government did not expect it to be downgraded.

Speaking after a cabinet meeting chaired by President Nicolas Sarkozy, Baroin dismissed speculation that France might be the next eurozone country to face steeper interest payments on government issued bonds.

There was "no risk" and "no concern", he said.

In this, he was echoing comments on Monday by Finance Minister Christine Lagarde, who was reacting to a story in the French weekly Journal du Dimanche headlined: "Financial crisis: France threatened."

"To say that France is threatened makes headlines ... but I think it is economically unsound," she told RTL radio.

"When I look at the interest rate and risk curves, when I consider the rates at which France is financing itself, we are at the head of the pack, we have the lowest interest rates."

She added that along with Germany, the Netherlands, Austria and Finland, "we are the best risks in Europe."

Europe has already been forced to bail out Greece and Ireland to avoid debt defaults and possible damage to the single currency, and markets are now eyeing Portugal and Spain with concern.
 

Date created : 2010-11-30

  • ECONOMY

    Portugal denies bailout pressure, approves austerity measures

    Read more

  • IRELAND

    Ireland secures 85-billion-euro EU aid package

    Read more

COMMENT(S)