PARIS: France fuelled a cross-Channel row on Friday, describing Britain’s economy as “very worrying” as the press in London reacted with fury to French calls for British debt to be downgraded.
The row comes after Britain clashed with France at an EU summit and refused to join members of the eurozone currency bloc in a new fiscal pact, prompting French President Nicolas Sarkozy to declare there are now “two Europes”.
Despite widespread condemnation in London of criticism from Paris on Thursday, Finance Minister Francois Baroin picked up the issue again, saying the French economy was in better shape than the British one.
“It’s true that the economic situation in Great Britain is very worrying and that we prefer being French rather than British on the economic front at the moment,” Baroin said on Europe 1 radio.
“We don’t want to be given any lessons and we don’t give any,” he said.
Baroin’s comments came as the British press on Friday slammed French officials for suggesting that ratings agencies were targeting the wrong country for a debt downgrade by looking at France.
“They should start by downgrading the United Kingdom, which has greater deficits, as much debt, more inflation and less growth than us,” central bank chief Christian Noyer had told regional newspaper Le Telegramme.
French Prime Minister Francois Fillon picked up on the theme on Thursday, telling reporters in Sao Paolo that ratings agencies seemed to be ignoring the state of British government finances.
“We are challenged on the European currency, first of all because we are too indebted,” he said.
“But we are not the only ones. Our British friends are even more indebted than we are and have a higher deficit, but the ratings agencies do not seem to notice this.”
A Downing Street spokeswoman said Prime Minister David Cameron had not spoken to Sarkozy, but said he was expecting to hold more talks in coming days.—AFP
Dear visitor, the comments section is undergoing an overhaul and will return soon.