Danger escaped for France, at least for the moment. Fitch has confirmed the triple A rating on public debt in Paris. Stable outlook. A few hours earlier, the Transalpine Ministry of Finance had formally denied rumors of an imminent downgrade of the country.
The rumors that the French were on the same track as the Americans, who had their rating cut by Standard & Poor's less than a week ago, fueled the tensions on the markets to excess. Not that there was a need, given that European stock markets are having yet another field day, plagued by repeated crashes. Shortly before 17 pm the Cac 30 lost more than 40 and a half points.
For several days, France had been targeted by speculation, especially in the CDS segment, insurance contracts against payment insolvencies, which marked sharp price increases to guarantee French issues.
