What are French leaders thinking?
Budget Minister Francois Baroin indicated on Sunday that France should not take for granted its AAA rating, which allows Paris to borrow relatively cheaply on international markets and finance its big budget deficit.
“The objective of keeping the AAA rating is an objective that is a stretch, and it is an objective that, in fact, partly informs the economic policies we want to have,” Baroin said.
“We must maintain our AAA rating, reduce our debt to avoid being too dependent on the markets, and we must do this for the long term,” he told Canal+ TV in an interview.
Dear wolfpack, come and get us!
Sounds like HedgeEye’s Keith McCullough was probably right when he warned about France being next.