French minister joins criticism of British economy
Reuters - 16/12/2011 10:56:20
PARIS, Dec 16 (Reuters) - Finance Minister Francois Baroin joined a chorus of French criticism of the British economy on Friday, exposing strained relations with London as concern grows that France's credit rating might be cut.
"The economicsituation in Britain today is very worrying, and you'd rather be French than British in economic terms," Baroin told Europe 1 radio.
Relations between Paris and London have become increasingly frustrated since British Prime Minister David Cameron refused to sign up a week ago to a European summit deal on the region's debt crisis.
Bank of France chief Christian Noyer attacked credit ratings agencies this week, saying that if they considered economic fundamentals they should downgradeBritain - which had "as much debt, more inflation, less growth than us" - before France. (news)
Standard & Poor's is reviewing France's top-notch AAA rating for a possible downgrade, as part of a wider review of euro zone ratingsfollowing the summit deal.
"It's true that we have no lessons to give, but we don't have to receive any (from Britain) either," Baroin added.
Jean-Pierre Jouyet, head of France's AMF markets regulator said this week that Britain's politicalright was the world's stupidest, as it served purely financial interests and not the national interest. (news)
France and Britain clashed at the summit, when Cameron vetoed a revision to the European treaty, forcing other member statesto seek other procedures to tackle the crisis.