January 18, 2012
Germany Will Feel French Downgrade
Nicole Gelinas, City Journal
Who will suffer most from Standard and Poor’s European sovereign-debt downgrades of January 13? Not France, though it lost its triple-A rating. Not Italy, whose rating dropped to BBB+, out of respectable A status. Rather, it will be Germany. The continent’s powerhouse guarded its sterling rating, but Chancellor Angela Merkel will find it lonely at the top.
TAGGED: France, Germany, Eurozone