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France under pressure from euro zone woes

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France under pressure from euro zone woes

France under pressure from euro zone woes
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Worries about the euro zone debt crisis spreading have pushed up the cost of insuring against a default by French government bonds. It rose to a record on Thursday.

The cost of borrowing for the euro zone’s second largest economy has been creeping up.

Meanwhile Standard & Poor’s had to confirm that France’s credit rating remains at AAA after the agency erroneously announced that it had been cut.

S&P said that due to a technical error an automated message was sent out to some of its clients suggesting France’s rating had been changed.