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UK strikes back at French criticism - FT.com

Britain has described as "simply unacceptable" attacks on the UK economy by French ministers and central bankers, as tensions over the eurozone crisis brought relations between the two countries to a new low.

Amid fears in Paris that France could lose its triple A sovereign debt rating, François Baroin, French finance minister, on Friday said: "The economic situation in Britain today is very worrying, and you'd rather be French than British in economic terms."

His comments follow remarks by Christian Noyer, head of the Bank of France, who said credit rating agencies should be more worried about Britain, which had "bigger deficits, more debt, higher inflation and less growth than us and where credit is shrinking".

Initially the attacks were shrugged off by Downing Street. British officials saw the comments as an attempt to deflect attention from the possible downgrade and from new figures showing France had slipped into recession during the fourth quarter.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt št gmail dotcom) on Sun Dec 18th, 2011 at 12:03:32 PM EST
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