Chirac interrupted their holidays to return to the Elysee. on not as a source, but as a related topic. The Ministry of economy French denies the rumors that point to a reduction in its debt rating. Major European stock markets lower. The French Government will consider throughout this month new measures to ensure the respect of the objectives marked to reduce its deficit, reported Wednesday the gala Chair. Sarkozy has proposed to Ministers to contribute new proposals to ensure compliance with those goals, which according to the Elysee, will be taken at a subsequent meeting scheduled for August 24. Rumors of the markets point to a possible reduction of the credit classification of France which, together with the low wing of Wall Street opening, dragged European stock markets. These new measures have been decided after the meeting on the economic and financial situation held among the principal members of the Executive with the President, Nicolas Sarkozy, who has interrupted his summer vacation to do so.
Economy denies rumors the Ministry French economy has denied and formally rejected conjectures that point to a possible degradation of the note of their sovereign debt by one of the classification, a few rumors that caused the precipitous fall in the Paris stock exchange and other international markets. These rumours are totally unfounded and the three (of risk rating) have confirmed that there is no risk of degradation of the French debt, a ministerial source has indicated. The encounter have particiapado Prime Minister Francois Fillon, the Minister of Foreign Affairs, Alain Juppe; and that of economy and finance, Francois Baroin; the head of the Department of budget and Government spokesman, Valerie Pecresse, the European Affairs, Jean Leonetti, and the Governor of the Bank of France, Christian Noyer. In a statement released after the meeting the Presidency recalled that, among other measures, the reform of pensions in 2010 has allowed to reinforce sustainably maintaining long-term public finances, and He reaffirmed the commitments taken from face to the reduction of the deficit, which is expected to be 5.7% of GDP for this year. The meeting Sarkozy welcomes also the measures taken by the Spanish and Italian authorities, as well as the intervention of the European Central Bank (ECB), has been effective for significantly reducing the interest rates on the debt of both countries. He has also stressed that the decisions of the European and American institutions have reduced tensions on financial markets.
