Here Are The First Official Responses By French Politicians To S&P Downgrade

Tyler Durden's picture

Just like in the US, where we had our very own Treasury Secretary telling us there is "no risk" the US would get downgraded, about 3 months before America did in fact get downgraded, the cognitive dissonance between reality and fantasy is fully exposed today, this time in Europe. And whereas patriotic chauvinism has its good and bad sides, listening to politicians explain away how the impossible has just happened is always very amusing. Especially when translated by Google. Such as in this case, where we have grabbed the following article from Les Echos and dumped it into the modern version of the babel fish.

Perte du AAA de la France  : les premières réactions


Overview of the main reactions of political leaders in the decision by Standard & Poor's to degrade a notch note of the long-term debt of France, from AAA to AA +.


Jean-François Roubaud, president of the CGPME: "It is clear that this is not a positive sign and it is not what will improve the morale of our business leaders and the French economy." "Obviously, we will be even more pending regarding investment, hiring, etc.. ". "What I fear, too, is a somewhat greater restriction of credit in the coming months," he said, hoping that "interest rates already take into account for much of this degradation 'expected for several weeks. Patterns needed "tangible signs of improvement" and were already receiving an improvement in their order books in three months, but "the loss of triple A is not going in the right direction."


Jean-Marie Le Guen , PS deputy of Paris: "This is first terrible news for France, our country will pay very heavily the consequences of this decision." "It's a triple setback for Nicolas Sarkozy: failure of his economic policy for 5 years aa led France in this situation," "failure of crisis management" and "social failure". "We are not equal before the crisis," "France is particularly targeted because it has increased its debt by a reckless fiscal laxity that we have repeatedly denounced" (on BFM-TV).


Eva Joly, the EELV candidate for president: "The deterioration in the rating of France reflects the failure of government policy and the failure of the policies of Nicolas Sarkozy, his tax breaks, and shows that policy austerity was not requested by the rating agencies in this way, was ineffective. " "More than ever, it is time to redress the balance, the austerity it is useless, as seen in Greece" because then "the country is blocked and the economy deteriorates." Eva Joly has also criticized the "unnecessary measures and performance-against" austerity policies that "create evil." For her, Nicolas Sarkozy "has compounded the crisis that was already there in 2007, it's time he chose to introduce the tax shield. Its policy of gifts contributed to worsen the deficit. " Under these conditions, it held that the presidential campaign was a "great uncertainty" and "difficult to anticipate."


Jean-Luc Mélenchon, candidate of the Left Front: "The rating agency Standard & Poors said the war of finance against France. We must resist, "wrote presidential candidate in a statement. "The Central Bank should announce immediately that it will pay to France a very low rate. Otherwise it must suspend payment to the budget of the French EU and cover with next slice a forced loan of French banks that have just been force-fed by the ECB. "


Christine Boutin, candidate of the Christian Democratic Party: "Nicolas Sarkozy is now the wall, it is not the time for scoops." "This morning, everyone struggled to register a same-sex marriage in the project of Nicolas Sarkozy, and now we lose the Triple A. .. I note the shift in the urgency of decisions. "

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CClarity's picture

"Ce la vie" or "merde"?

BandGap's picture

C'est la vie.

Like they didn't see this shit coming.

Crisismode's picture

C'est la Merde


This is the trigger for a French-German breakup and NASTY divorce.

cossack55's picture

I thought that happened in 39' and settled out of court in 40'.

Ahmeexnal's picture

Banks in the eurozone will close Mon-Wed.
riots -> martial law -> end of "democracy"

Badabing's picture

The significance of Friday the 13th

On Friday, October 13, 1307 Templar Grand Master Jacques de Molay and several Templar Knights were arrested by King Phillip of France. Most were eventually tortured to death.

The Templar’s where the international bankers of the time, some believe they still are!

Fred Garvin's picture

and video of the Italian reaction...3:50 into the clip

Fortunate Fool's picture

This is where 30 years of incometent politicians bring a country. Notice that the two times French debt decreased as a % of GDP was:

- during a socialist government (Jospin)

- during the de Villepin government 

Ahmeexnal's picture

The Templar knights were destroyed by another less known order.

This order has been around for over 800 years and has dictated major global events.

It is still around, and has been very active since 9/11.

I present to you the Imperial Teutonic World Order, the true oligarchs who run the world. The Rothscilds are mere employees of the Teutonic Order:


The Teutonic Order of Saint Marys Hospital in Jerusalem - Deutscher Orden - German Order, was formally revived back into a Chivalric Order of Knighthoood, thus making a seperate Chivalric Arm of the Teutonic Order from the present Clerical Papal Arm of the Order in Rome, By His Imperial and Royal Highness Prince Karl Friedrich of Germany, on Christmas Day in the year of Our Lord Two Thousand and One, by Imperial Decree. His Imperial Highness, assumed the Grand Mastership of The Imperial Teutonic Order - Deutscher Orden, on the 1st day of Janaury, 2002, thus becoming the 60th Chivalric Hochmeister of Teutonic Order of Saint Marys Hospital in Jerusalem - Deutscher Orden.


As a sidenote, it is incredible that 99.999% of germans do NOT know they are serfs and that they are run by an imperial elite.

DoChenRollingBearing's picture

Do you have any other references on these guys other the dot-com?

Ahmeexnal's picture

They are on wikipedia as the TEUTONIC KNIGHS:

Note the infamous history they carry.
They were expelled and outlawed from numerous countries throughout the ages.
Here's the official german site relating to the religious arm:

It all makes sense now. Nigel Farage has reported seeing the German Imperial coat of arms during official europarliament ceremonies:

ElvisDog's picture

Hey, how do I get an application to join the Imperial Teutonic World Order? It sounds like an organization I want to be a part of? Is there a secret handshake?

hedgeless_horseman's picture



...The First Official Responses By French Politicians To S&P Downgrade...

"We surrender."

Azannoth's picture

The French are standing on the Edge of a Cliff and S&P just said 'jump', will they oblige? Seems so..

ParkAveFlasher's picture

"We surrender."


+10 thanks for making me have a scene here at work

francis_sawyer's picture

I'm shocked... SHOCKED to find out there are downgrades going on in this establishment!

Fortunate Fool's picture

Careful what you wish for. It would just take one numbnut to be elected to put the whole system down, including in the US, and by listening to reactions, people there are pissed. Remember that Hitler was elected to get into power... And remember that Le Pen made it to the second round of presidential election in 2002. We're 100 days away from the next presidential election in France and don't under-estimate french people's willingness to take on their government. They've already cut off a king and queen's head. They'll do it again if necessary.

falun bong's picture

Actually you would say "c'est de la merde" ("that's some sh*t", or "that's sh*t"). If you said "c'est la merde" you would be implying that it's all the sh*t in the world, which is probably an exaggeration...

Buck Johnson's picture

It most certainly is.  They can't keep this facade up much longer, eventually these countries will leave the Euro and the EU and reintroduce their currencies.

cossack55's picture

"Ce la vie say the old folks,

Ya know ya just never can tell"

                     John Prine

                Common Sense LP

r101958's picture

Try some of the new Euro fragrance "Eau de PIIGSty".

DoChenRollingBearing's picture

I think that it is now time to add something from France to that fragrance...

B-rock's picture

They fart in S&P'S general direction.

pods's picture

Your mother was a hamster, and your father smelt of elderberry!

tinsmith's picture

You do have to agree with at least part of one of the above quotes. It most certainly is NOT "the time for scoops". Well said.

StychoKiller's picture

Hmm, time for some icecream...

francis_sawyer's picture

The RATINGS have been shot!... Round up the usual suspects...

Stu Pedassle's picture

Today's comedy interlude....


Hard to believe that artciles like this are still being published after eleven years.

fonzannoon's picture

those comments sound a lottle different then our crybabies across the pond. Wow.

kato's picture

"We have the finest wine in Christendom."

Instant Wealth's picture

Château Migraine 2012 ?

Dcheeth2's picture

Rescued all those years ago, by those fine outstanding Anglo Saxons. Well, Californian grapes in particular, and Anglo Saxon party lovers in London, rescued French wine. 

fonzannoon's picture

lottle is a word. yup.

Vaiman's picture


Mr Lennon Hendrix's picture

I think the cannons get shot across the pond now.

earleflorida's picture

"nulla dies sine linea", par maginot  - oue!

rayduh4life's picture

Downgrades by the same folks who christined all that MBS shit gold?  Who gives a shyte.  What credibility do they have?  Thought these were just opions anyway

camaro68ss's picture

Poor FrAAnce. haha



walküre's picture

Die USD!

Die Rothschild vermin creatures from the deepest bowels of hell.

sabra1's picture


lotsoffun's picture

ta bernanke has something for you too - and you'd be 'prone' to accept it.


Conrad Murray's picture

Christine Boutin been smoking some whacky tabacky today.

GeneMarchbanks's picture

Christian Democrats heart Hungarian Jew(s)...