Today's French newspapers are only interested in one letter - the "A" France lost from its credit rating on Friday. We take a look at the reactions as columnists and politicians weigh in.
France's business papers are pretty unforgiving - La Tribune says France didn't deserve the top rating anyway, as it hasn't balanced a budget in 36 years, while Les Echos says this is a judgement not just on policies - but on the whole French social model.
Liberation asks the really political question - who is winning from this? The answer, they say, isn't lead challenger François Hollande - it's Marine le Pen and Jean-Luc Mélenchon, the candidates who manage to paint themselves as being outside the system.