1. PRESSE GB
• Triple A
• Rating Agency
• Situation in europe
• Future of EUROPE
BALSACK Léa

2. FRENCH RATING DOWNGRADE !!!

3. France was downgraded by rating agency and talks on a
crucial deal to restruture Greece’s unsustainable public debt
burden broke down.
The value of euro fell sharply
• 1,38 dollar the 8th november
• hypotesis break-up of the europe
•Drop stock market in Europe and America

4. Who has made the polemic ?
Rating Agency
This month France was joined by Austria in losing
the coveted AAA rating and they were among nine
European countries to be downgraded,
Including Spain, Italy and Portugal

5. EUROPE DOWNGRADE by Standard
&Poors
France Pass AAA to AA+
Austria Pass AAA to AA+
Slovenia Pass AA- to A+
Slovakia Pass A+ to A
Spain Down 2 grades AA- to A
Malta Pass A to A-
Italy Pass A to BBB+
Cyprus Pass BBB to BB+
Portugal Down 2 grades BBB- to BB

6. REPERCUSSION
• Solidarity between france and spain:
• they don’t agree with S&P,
• they said that “it is not Notary angency should
determine country economy and their political.”
• Sarkozy and the 1st minister Mariano Rajoy
insist on the need for a common front face of
difficulties.

7. Moody’s Agency confirm the AAA
• Against S&P
• the agency considers positive measures to reduce
deficit and underline that the economy French is rich
and several.
• but not limited to changing the prospect of changes
by the end of March.

8. SITUATION IN EUROPE
• 1€ = 1.2835 USD
• Greece is undebted it will pay back €14bn of debt on
20 March will not be delivered if there isn’t a
restructuring deal.

9. GOAL:
€ .Italy must refinance €440bn of debts this year.
it is a greater threat than greece for Europe.
€ .keep Greece against the abandonment of the
euro area
€ .Germany & France talk about “Fiscal pact” to
limit defecit.
€ .A new treaty should be signed by march a
“second leg”

10. FORECASTING
€ The 20th of january top “MERKOZY “ and Mario Monti
€ Large European banks, many in France, may hold around €120bn of
Greek bonds. €80bn( of the country's debt) is believed to be in the
hands of smaller asset managers, including hedge funds.
€ Disagree with BCE