Moody's downgrade is reason to pursue reforms: France
PARIS (Reuters) - Finance Minister Pierre Moscovici said a downgrade of France's debt rating by Moody's was motivation to pursue structural reforms and added France remained committed to meeting a goal to cut its public deficit to 3 percent of output next year.
Moscovici said the one-notch downgrade to Aa1 from triple-A by Moody's Investors Service late on Monday was a reflection of the country's economic management of past years and said French sovereign debt remained among the most liquid in the euro zone.
"Moodys is now giving France the same rating as Standard & Poor's, which has allowed us to live with low interest rates for many months," Moscovici told Reuters.
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- New York City gas explosion subject of federal probe |
- White House tried to mediate dispute between Senate, CIA panel: source
- UPDATE 1-U.S. investigators suspect missing Malaysian plane flew for hours -WSJ