If the European debt crisis were to get even worse, France could lose his much loved rating, the prestigious triple A. This time the warning comes from the agency Fitch, which closely mimics the anathema hurled at Paris by its older sister, Moody's, on Monday.
“Within a stress scenario – reads a special report on French public finances published by Fitch – in which a further intensification of the eurozone crisis leads to a more intense deterioration of the economic cycle in France and within of the bloc, and where the material risk of contingent liabilities has crystallized, especially regarding support to the banking sector, the French AAA rating would be at risk". According to the agency, additional fiscal measures will probably be needed to reach the target of a 2013% deficit/GDP ratio in 3.
