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Treasury Minister Eddie Teare says he is not surprised France's sovereign credit status has been downgraded.
On Saturday, international agency Standard and Poor's reduced the rating of nine European countries.
France is now rated as AA+, the same as the Isle of Man.
Mr Teare doesn't believe the change will impact on the Island directly, but it could have other effects within Europe:
RTLC defends taxi tariff changes
Prices have gone up and a higher overnight rate is now implemented from 11pm
King Gaming's license suspended amidst criminal investigation
Gambling Supervision Commission publishes statement
Ministers to meet with LVA to discuss hospitality concerns
Comes after concerns raised about the issues facing the industry
Looneys of Ramsey to close
Number of factors behind the decision
Trade is good, but it's still a struggle to make a profit, says local business
Comes after calls for gov't to do more to help hospitality sector
Villiers Square development plans approved
Two buildings proposed for the site
