EU commission rejects France downgrade rumours

11th August 2011, Comments 0 comments

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

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