France is about to fall into a recession according to its statistics bureau– the National Institute of Statistics and Economics.
France is already on a credit watch with negative implications according to Fitch. Many analysts believe an S&P downgrade of the nation’s debt could happen before the end of the year.
France’s rating is viewed?as essential to the of the EFSF. The ability of?that fund to borrow money to bailout?week nations in the region could undermine the ability of effect rescues. French and German ratings are the underpinnings of the EFSF rating
According to MarketWatch:
The National Institute of Statistics and Economics said Thursday that the France's gross domestic product will contract by 0.2% in the fourth quarter of 2011 and by 0.1% in the first quarter of 2012, before edging up 0.1% in the following quarter.
Douglas A. McIntyre
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