this post was submitted on 14 Dec 2024
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Summary

Moody’s downgraded France’s credit rating from “Aa2” to “Aa3,” citing “political fragmentation” and limited prospects for addressing the country’s rising fiscal deficits.

The downgrade follows similar moves by S&P and Fitch and comes as Emmanuel Macron appointed Francois Bayrou as France’s fourth prime minister this year.

Bayrou replaces Michel Barnier, who was ousted after a no-confidence vote over his proposal to cut €60 billion in government spending.

Bayrou now faces the challenge of navigating a divided legislature to draft a 2025 budget and address the country’s economic instability.

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[–] [email protected] -3 points 1 week ago

I don't think that's an accurate representation.