Analysis: This isn't time for France to relax about its finances

08/21/2011 | Economist (free content), The

Rumors that France would lose its AAA credit rating were unfounded, but that doesn't mean smooth sailing for President Nicolas Sarkozy, according to The Economist. "Sarkozy's tinkering -- not replacing one in two retiring civil servants; trimming tax exemptions -- has allowed him to keep his deficit-reduction promises, so far," the magazine notes. "Yet besides last year's lifting of the minimum retirement age from 60 years to 62, he has done little to reform public spending structurally."

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Economist (free content), The

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