
Macron is to blame for France’s dismal economy
Standard & Poor’s downgrading of France’s credit rating on Friday is a hammer blow to President Macron’s reputation. The ratings agency has reduced France from AA to AA-, putting it on a par with the Czech Republic and Estonia and one notch below the UK. It is the first time S&P has downgraded France’s debt since 2013, although the firm Fitch did so in April 2023. This is comeuppance for years of ‘as much as it takes’ spending by a president haunted by the gilets jaunes movement. The credit rating downgrade comes just a week before the European elections, where Macron’s Renaissance party is trailing the Rassemblement National (RN) by over 16
