October 17, 2011

Achtung, France!

[From the series, Who's the Next Domino to Fall?]

Top German economists are warning that French debt is likely to be downgraded in the months to come. In today's Spiegel Online International:


Ever since Europe's common currency crisis began erupting in earnest last year, two countries have been largely responsible for preventing a complete collapse of the euro zone: France and Germany. Without their support, Greece, Portugal and Ireland would have long since declared insolvency.

This year, though, with the euro crisis going from bad to worse, it is looking increasingly likely that France may not be able to emerge unscathed. Indeed, leading German economists on Monday told the website of financial daily Handelsblatt that French debt is likely to be downgraded in the months to come.



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