EU commission rejects France downgrade rumours
The European Commission on Thursday rejected rumours France faces a credit rating downgrade, after French banks' share prices took a huge hit on fears of exposure to Greek debt.
"We have no comment to make on rumours circulating here and there about any downgrade for such-and-such country," said Olivier Bailly when asked about France being sucked into speculation that has already affected Italy and Spain. "You should maybe give a little more credence to the declarations that have been made," by the global credit rating agencies.
© 2011 AFP