20 November 2012, 19:54

Minister blames Sarkozy for France's rating downgrade

Minister blames Sarkozy for France's rating downgrade

French Economy Minister Pierre Moscovici has blamed a downgrade of France’s sovereign credit rating on the former right-wing government of President Nicolas Sarkozy.

On Tuesday, the Moody’s international ratings agency stripped France of its triple A rating, replacing it with AA1, and saying that it would keep a negative outlook on France.

In January, Standard & Poor’s downgraded France’s top AAA rating by one notch.

At the same time, the minister expressed hope that the French economy would grow by 0.8% next year despite doubts by Moody’s experts.

Voice of Russia, RIA

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