Downgrade upgrades French election

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Downgrade upgrades French election

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The credit rating downgrade may have caused little surprise in France, but it is adding a little spice to the country’s presidential election, just 100 days away.

One of Nicolas Sarkozy’s main challengers said: “In the real economy such uncertainties will affect investment and business credit. And at the same time, it downgrades France in relation to our biggest neighbour, Germany.”

From the far-right there was a more forthright response, with Marine Le Pen directing her fire at the EU and Sarkozy. She said: “It’s the first stage in the spiral of desintegration of the Eurozone, and the collapse of the myth of the ‘president-protector.’”

The Socialist Party, whose candidate Francois Hollande leads in the polls, said Sarkozy was not fit to run the economy.