January 18, 2012

Germany Will Feel French Downgrade

Nicole Gelinas, City Journal

AP Photo

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.

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TAGGED: France, Germany, Eurozone


The downgrade's real significance is in flooding political poison into the continent's heart. more ››
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