S&P Cuts EFSF Rating
Standard & Poor's followed up its mass cuts to the credit ratings of eurozone countries on Friday with a cut in the credit rating of the European Financial Stability Facility on Monday. EFSF officials said that nonetheless the facility was well enough funded to cope with the eurozone debt...
France Nominates Treasury Official for ECB Board
France has nominated its second-highest Treasury official, Benoit Coeure, to a seat on the European Central Bank’s six-member executive board. If Coeure is appointed, he would once again give France a voice in the ECB’s policies and decisions.
Threat of French Downgrade Endangers Eurozone Plan
oody’s Investors Service said late Tuesday that France’s top-grade credit rating was under pressure from the eurozone crisis. The news could mean trouble for the plan being assembled by European leaders to avert a complete economic meltdown.
Growth in French Economy Grinds to a Halt in Q2
Despite the fact that economists had expected growth of 0.3% in the French economy in Q2, consumers cut back and there was no growth at all for the period.
France’s Lagarde Named to Head IMF
French Finance Minister Christine Lagarde was named late Tuesday to succeed the disgraced Dominique Strauss-Kahn as head of the International Monetary Fund (IMF).