France Rating Downgraded Again as Concerns on Finances Mount

France's credit rating has been downgraded for the second time in a week, indicating a worsening outlook for the country's public finances. This comes amidst a prolonged political crisis in the country. The downgrade, made by S&P Global Ratings, reflects concerns over France's ability to address its fiscal challenges. The agency cited the country's "high and rising government debt levels" and the "persistent structural weaknesses" in its economy. The downgrade is likely to make it more expensive for France to borrow money in the international markets, potentially hampering its ability to fund government programs and investments. The political crisis, marked by ongoing social unrest and a fragmented parliament, has added to the uncertainty surrounding France's economic and fiscal policies. This has further undermined investor confidence in the country's long-term economic prospects. The French government has pledged to implement reforms to address the country's structural issues, but the political landscape has made it difficult to implement meaningful changes.