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Fillon (l) has committed to further austerity measures as credit ratings agencies begin to target France (Photo: The Council of the European Union)

Paris announces fresh austerity in bid to save triple-A rating

The French government has announced a fresh round of austerity measures worth some €19 billion in spending cuts and tax hikes in an attempt to stave off a downgrade of the country’s triple-A credit rating.

The move, announced by Prime Minister Francois Fillon, is the second such austerity package in three months, leaving citizens to wonder if this is the last such bout of belt-tightening.

In August, the government unveiled €12 billion in spending cuts and other fiscal rearrangemen...

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Fillon (l) has committed to further austerity measures as credit ratings agencies begin to target France (Photo: The Council of the European Union)

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