Green Room

Bad news: Socialism hasn’t helped France’s credit outlook

posted at 6:08 pm on November 19, 2012 by

You mean adopting an across-the-board self-proclaimed Socialist government and enacting measures that steeply discourage economic growth, has not done wonders for the country’s financial prospects? But how can this be? Reuters reports:

The euro slid lower against the U.S. dollar late on Monday following the loss of a coveted Aaa credit rating from Moody’s Investors Service. …

Moody’s cut France to Aa1 and maintained a negative outlook on the credit, citing the country’s uncertain fiscal outlook as a result of “deteriorating economic prospects.”

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You don’t say!

Chocktopus on November 19, 2012 at 6:33 PM

Que the Price is Right “you lose” jingle.

Oil Can on November 19, 2012 at 6:44 PM

Hey France! Wait for us, we’re right behind you.

antipc on November 19, 2012 at 6:56 PM

What’s French for “No Doi” ?

chimney sweep on November 19, 2012 at 6:57 PM

But France has all of the modern intellectuals, geniuses, cutting-edge technocrats, ivy-league planners, and scholars money can buy!

Certainly the Leftist Utopia can work this time, correct?

Forward!

visions on November 19, 2012 at 7:07 PM

Honestly, France can’t go forward until they really take care of the problem, which requires a guillotine for all the capitalist exploiting aristocrats of wealth.

AshleyTKing on November 19, 2012 at 8:21 PM

Honestly, France can’t go forward until they really take care of the problem, which requires a guillotine for all the capitalist exploiting aristocrats of wealth.

AshleyTKing on November 19, 2012 at 8:21 PM

I’d say this would be a repeat of the early 1800′s if it wasn’t for France’s huge Muslim population. It would take another Napoleon to even save their sorry butts, nevermind restore their national glory.

MelonCollie on November 19, 2012 at 10:38 PM

Moody’s cut France to Aa1 and maintained a negative outlook on the credit, citing the country’s uncertain fiscal outlook as a result of “deteriorating economic prospects.”

Bwahahahaha.

Danny on November 19, 2012 at 11:04 PM

Socialism will work.

All they need to do is raise the VAT to 80% and introduce a new 90% tax rate for incomes over 100 euros.

It’s about fairness, social justice, and having some skin in the game too. It’s also about Warren Buffet’s secretary.

/Holland

CorporatePiggy on November 20, 2012 at 9:24 AM

Moody’s cut France to Aa1 and maintained a negative outlook on the credit, citing the country’s uncertain fiscal outlook as a result of “deteriorating economic prospects.”

Erika, you’re misrepresenting the intent behind the statement, here. “Deteriorating economic prospects” clearly refers to the fact that they haven’t raised taxes on the rich nearly enough to cover the deficits. France needs more sources of revenue and increased income in order to project financial stability, thus retaining the credit rating, so it’s possible they haven’t been socialist enough.

aaaand scene. Convincing enough for you all?

mintycrys on November 20, 2012 at 10:23 AM