5:42 PM
Jalal HB
France’s prime minister said on Saturday his country will push ahead with cost-cutting measures after its top-tier debt rating was downgraded, a blow with repercussions across financially beleaguered Europe.
Other European countries from Austria to Cyprus assailed ratings agency Standard & Poor’s after a raft of downgrades Friday night. The move may make it more expensive for struggling countries to borrow money, reduce debts and avoid a new recession.
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