Outlook for French economy goes negative

Nicolas Sarkozy declares his candidacy in the presidential elections (photo:dpa)
Nicolas Sarkozy declares his candidacy in the presidential elections (photo:dpa)

French President Nicolas Sarkozy finally threw his hat into the ring for the April presidential election as most figures spelled out bad news for the economy, job losses and unemployment. Ratings agency Moody's gave France a negative outlook in the mid-term and figures showed a huge trade deficit for 2011 even though the economy grew by 1.7 per cent.

CREDIT ratings agency Moody’s outlook for France’s Aaa is now negative after it said that it considered a possible downgrade of the rating in the mid-term.

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Standard and Poor’s has already downgraded it to AA+.

This adjustment is explained by the Eurozone crisis including ...

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