A Comment About

Why Wasn’t France Downgraded Sooner?

January 28, 2012 - 12:02 am - by Michel Gurfinkiel
Fred-m
2012-01-28 06:21:08

“Why has it taken so long for S & P and others to take good note of it ?”

Because all convenient lies must be supported as long as the useful charade can be sustained. The whole over-leveraged economic system is broke. Why should France’s condition be exceptional. The current level of debt cannot and will not be paid off. We are just jockeying for position for when the music stops.