France Faces a Possible Credit Downgrade.

The European Zone is currently facing extreme economic problems. The largest problems lie in the possibility that Greece may default on its current economic obligations. Several countries including France, Germany, and Great Britain attempted to salvage the failing Greek economy through a series of bailout packages. Despite of all of their efforts though Greece is on the brinks of economically collapsing.
France now faces the consequences of participating in bailing out several of the countries including Greece inside of the European Zone. Moody’s, credit agency, and has warned the French of a negative outlook for their credit rating do to all of their current expenditures. France follows the trend of countries in Western Europe who have gotten such an ominous warning from Moody’s. Italy earlier last month proposed several austerity measures to prevent a possible downgrading of their credit rating. A summit will take place on Sunday between all of the 17 countries that form the Euro Zone to discuss the options that are available to ensure that Greece doesn’t default. Massive work strikes are already taking place in Greece, but it could get out of hand if they are unable to design some type of rescue package. You can read more about Frances predicament here http://www.reuters.com/article/2011/10/18/us-france-ratings-moodys-idUSTRE79G6XT20111018