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France, Germany take notes to S&P's perspective review

12-06-2011 09:52 BJT

PARIS, Dec. 5 (Xinhua) -- France and Germany has taken note of the perspective of a review by Standard and Poor's Ratings Services of the credit rating of several euro area member states, according to a brief statement issued by the Elysee Palace Monday.

"France and Germany reaffirm that the proposals they (President Nicolas Sarkozy and Chancellor Angela Merkel) made jointly today will reinforce the governance of the euro area in order to foster stability, competitiveness and growth," said the statement.

"France and Germany, in full solidarity, confirm their determination to take all the necessary measures, in liaison with their partners and the European institutions to ensure the stability of the euro area," the statement added.

Early media reports said Standard and Poor's has placed the ratings of 15 eurozone nations were placed on negative credit watch, citing tightening credit conditions and disagreements among European policy makers on how to tackle the region's immediate and long-term economic challenges.

Standard and Poor's would consider lowering by three months the notes of several European countries, including those who benefit from AAA (the highest rating possible), according to the media.

Triple A notes from six countries in the euro area, including Germany, France, Austria, Luxembourg, Finland and the Netherlands were placed on negative watch, meaning they could be lowered within 90 days, reported the Financial Times on its website.

Editor:Zhang Hao |Source: Xinhua

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