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In a 2001 photo, Paris’ then-Mayor Bertrand Delanoe accepts change as he takes part in an exercise at a Paris street market to familiarize the French public with the new Euro currency in their daily lives.
In a 2001 photo, Paris’ then-Mayor Bertrand Delanoe accepts change as he takes part in an exercise at a Paris street market to familiarize the French public with the new Euro currency in their daily lives.
(Reuters Photographer/Reuters)

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In France downgrade, Moody’s flags the culprit: the euro

It took Moody’s Investors Service nearly a year to come to the same conclusion Standard and Poor’s reached on France last January: That one of Europe’s standard-bearers no longer warrants a top-notch debt rating. But with 10 months more muddy water under the euro zone’s bridge, the bond rating giant is placing a big share of the blame not on the European Union’s debts, but on its very design.