Arab Today, arab today french central bank chief hits at moody\s downgrade
Last Updated : GMT 23:46:25
Arab Today, arab today
Arab Today, arab today

French central bank chief hits at Moody\'s downgrade

Arab Today, arab today

Arab Today, arab today French central bank chief hits at Moody\'s downgrade

Hong Kong - AFP

The head of France\'s central bank on Friday hit out at Moody\'s, saying the agency had made a \"factual mistake\" when it took away the country\'s cherished AAA credit rating. In making its decision, which followed a similar move by Standard & Poor\'s earlier in the year, Moody\'s cited structural problems with the economy that made it harder to compete globally and warned more cuts could be on the cards. It said Paris could face fiscal issues in the future and it was exposed to demands for financing from heavily-indebted eurozone partners. But Noyer, on a visit to Hong Kong, said Moody\'s had been \"misguided\" and that the argument over the country\'s exposure to debt-addled European periphery nations such as Greece through trade links was not accurate. \"All kind of reasonings about the exposure to periphery... is outdated and therefore is a factual mistake,\" he told reporters on the sidelines of a conference to promote Paris as a European hub for offshore yuan trading. \"I have difficulty to understand the reasonings. I respect opinions of all kinds, we are in a free world but I am not really convinced by the arguments that have been put forward,\" Noyer added. He said France\'s exposure to sovereign debt risk has been \"substantially reduced\" as the eurozone as a whole has stabilised, while authorities are committed to cutting spending and fiscal consolidation. \"All this means we are able to absorb the economic shocks,\" he said. French President Francois Hollande has sought to reassure financial markets following last week\'s downgrade while reaffirming his determination to control public finances and pursue reforms. Moody\'s has stressed that France still has an excellent rating because of its significant credit strengths, a large and diversified economy and the government\'s commitment to structural reforms and fiscal consolidation. The downgrade put France behind Finland, Germany, Luxembourg and the Netherlands, which have retained top AAA ratings, although they have all been given a negative outlook from at least one of the three agencies.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today french central bank chief hits at moody\s downgrade Arab Today, arab today french central bank chief hits at moody\s downgrade

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday