Nov

20

 Finger off the dike in France at Moody's.

Gary Rogan adds:

If brevity is the soul of wit than this:

Moody's Investors Service on Monday lowered France's sovereign rating by one notch to Aa1, stripping the country of its coveted triple-A rating. "France's long-term economic growth outlook is negatively affected by multiple structural challenges, including its gradual, sustained loss of competitiveness and the long-standing rigidities of its labor, goods and service markets," said Moody's in a statement. The ratings agency also expressed concern over France's uncertain fiscal outlook and noted that its resilience to future euro-shock is becoming more difficult to predict. The rating outlook remains negative.

is much less preferable to

"The problem with Socialism is that sooner or later you run out of other people's money".
 


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