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French downgrade jars Germans 
French downgrade timing is dire for Sarkozy Standard and Poors rating agency on Friday cut Belgium’s credit rating from AA+ to AA with a negative outlook.
The agency said the move, which was not a total surprise, came as a result of general instability in European economies.
It also pointed to the ongoing failure of parties in Brussels to form a government.
This has amplified the country’s high debt levels as they are unable to pass austerity measures.
More about: Belgium, Credit rating agency, Standard & Poor’sCopyright © 2012 euronews
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