Sarkozy: France's Rating Cut Doesn't Change Anything

Reuters

President Nicolas Sarkozy sought Monday to play down the impact of France losing its triple-A credit rating with agency Standard & Poor's, saying the move would not derail France's plans for reform and budget reduction.

"My deep belief is that it does not change anything," he told journalists.

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"We must reduce the deficit, we must reduce our spending and we must improve the competitiveness of our economy to resume our way on the path to growth."