2018/12/08 Top Rankings|
No.1 Proactive|1,148|主动参与第一|Outranked Binance English No.2
No.1 Active Joins|1,112|真人进群第一|Outranked 币安官方中文群 No.3
Overall|No.6|876|综合第六
Members|53,767|No.330
Most people don’t yet grasp what is happening in France. Markets are pricing French sovereign debt as junk, rating agencies will eventually have to follow. This will have two major impacts:
1. Most French banks are already rated at or just below the sovereign, so a move toward junk would likely drag domestically focused lenders with it. Credit to households and firms would slow sharply, hurting the economy and widening the fiscal deficit even further, a vicious cycle.
2. For the ECB, the constraint is legal as well as financial. A fall below investment grade would force sales by ratings-bound investors while making any backstop harder to justify under current rules.
The next euro crisis will begin in France. The first, which began in Greece, will feel like a walk in the park compared with what comes next.
🇫🇷 France’s student protests are spiraling into serious unrest.
More than 1,000 high schools were hit by protests or strikes, nearly 2,000 people were arrested, and 305 police officers were injured as fires, vandalism and clashes spread.
Students are demanding more funding and better school conditions, while the government says ultra-left groups are hijacking the movement.
Writer: Sol