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January 13th, 2012 
FAKE NEWS for the Zionist agenda It’s a new year but old problems continue to plague the euro as Standard Poor’s (SP) is set to downgrade the credit rating of several European countries. But will a French downgrade spell collapse for the eurozone?
Although Germany and the Netherlands are expected to remain unaffected, the US-based SP credit rating agency is likely to downgrade France, Austria and Slovakia, French TV reports, citing government sources.
According to one eurozone official, France and Austria would lose their perfect AAA ratings, while Slovakia, which is currently rated A+, would also fall a notch.
Many European leaders have been quick to criticize credit ratings agencies for having a negative impact on the 17-nation monetary union at the very time it is attempting to avert a crisis.
However, Patrick Young, executive director of the investment firm DV Advisors, told RT that in France’s case, the downgrade is long overdue.
“This [downgrade] has been deserved for several years. The French government has been economically incontinent for the course of several decades. They have no concept of how to run a reasonable economy in terms of not spending more money than they can afford.”
Young also says that the SP downgrade is likely to decouple France from what could become the last remaining economic power in Europe.
“The issue emotively of this downgrade is that it fundamentally alters the balance of power within Europe, because France is now, a very, very second-grade member of the top pairing in the European Union, and that leaves everything up for [grabs] in the EU at the moment. It also leaves Germany hideously exposed – and domestic politics in Germany are about to get very bloody for Mrs. Merkel,” he said.
“Now everyone across the border from France in Germany is going to be looking down on their neighbors and asking, ‘Why should we, Germany, end up being alone amongst the very elite club of nations that have got their AAA, the top-grade rating, and indeed, our French partner is no longer the perfect bride,’” Young continued.
Also, with the French presidential election planned for April 22, Young argues the French electorate will most likely voice their discontent for Nicolas Sarkozy.
“I actually think that Mr. Sarkozy will be lucky to make it into the second-round run-off of the presidential elections…I think France has just had enough of him. He’s hyperactive, but delivers nothing. Ultimately, he will be the man who was there when France was downgraded as a major league economic power to being a second-tier nation financially.”
Watch Patrick Young’s full interview with RT
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