France's Debt Woes Spark Negative S&p Outlook
S&P has revised its outlook on France to negative from stable, citing rising debt, political gridlock, and uncertain growth. The agency also affirmed its rating for France at 'AA-/A-1+' after cutting it from AA last May. France's public finances have spiralled out of control due to a political crisis that left four successive governments paralysed.
- This downgrade highlights the challenges faced by countries with large fiscal shortfalls, and may prompt other European nations to re-evaluate their own budgetary situations.
- What measures will France implement to address its debt burden and restore confidence in its public finances, and what implications might this have for the Eurozone as a whole?