Economy

Political situation in France
The political soup gives France a lowered credit rating

Now Moody's follows two sector colleagues and lowers France's credit rating, several media reports. The reason is that the newly appointed Prime Minister Francois Bayrou is judged to have little chance of getting a sustainable budget through, writes TT.

"There is now a very low probability that the next government will sustainably reduce the size of the budget deficit," writes the credit firm.

The credit firm lowers the rating one notch to Aa3, three steps below the highest rating. It comes after both Fitch and S&P lowered their ratings on the country, which has been in political disarray since President Emmanuel Macron called snap elections this summer.'

 

Sources: Trump Considers Privatizing Postal Service

President-elect Donald Trump is considering privatizing the US Postal Service, the Washington Post reports, citing sources.

He is said to have discussed the matter with future Commerce Secretary Howard Lutnick and other future ministers, according to the newspaper's sources.

The US Postal Service made losses of 9.5 billion dollars in the last fiscal year, corresponding to more than 100 billion kroner, writes Bloomberg.