French policy not dictated by ratings, Hollande says

BRUSSELS Fri Dec 14, 2012 7:51am EST

France's President Francois Hollande holds a news conference during a European Union leaders summit, in Brussels December 14, 2012. REUTERS/Eric Vidal

France's President Francois Hollande holds a news conference during a European Union leaders summit, in Brussels December 14, 2012.

Credit: Reuters/Eric Vidal

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BRUSSELS (Reuters) - France runs its economic policy in the nation's best interests and not based on what credit ratings agencies say about it, French President Francois Hollande said on Friday, hours after Fitch Ratings kept its triple-A rating for the country.

"France does not determine its economic policy according to credit ratings agencies, it does it according to what is right for France," Hollande said after an EU leaders' summit in Brussels.

He said French borrowing costs had fallen since he came to office this year and that French debt is attractive.

Fitch is the only agency to retain an AAA rating on the euro zone's second-largest economy.

(Reporting by Mark John, writing by Robin Emmott; editing by Rex Merrifield)

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