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In fact France's finance minister focused on his country's public debt, which had to be reduced urgently.
This declaration was made almost immediately after Moody's announcement downgrading France's credit rating. Besides the agency stressed that the country's economic outlook remains negative in particular because of its exposure to other weak Eurozone economies through its trade and banking links. Not only the agency but other European countries among them Germany expressed concern about France's lack of competitiveness regarding in particular it's medium enterprises, high and recurrent unemployment which has reached the three million mark and of course a heavy public debt which reduces the investment policies. France's economic recovery becomes a time-critical project.

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