PARIS (MNI) – Bank of France Governor Christian Noyer said Thursday
that a downgrade of France’s AAA credit rating “was not justified on
the economic fundamentals.”
In an interview with the regional newspaper Telegramme de Brest,
Noyer argued that if rating agencies were going to start cutting
the ratings of AAA countries in Europe, “they should start with Britain,
which has higher deficits, more debt and less growth than we do.”
Noyer, who is a member of the Governing Council of the ECB, also
said that the ratings agencies, “by their critical commentaries, have
undermined the positive sentiment in the markets following the Brussels
summit.”
–Paris newsroom, +33142715540; jduffy@marketnews.com
[TOPICS: M$$EC$,M$$CR$,M$F$$$,MGX$$$]
