French banks hit by ratings downgrade

2011-09-14 1

After weeks of investor assaults on the French banking sector, seen to be particularly vulnerable to Greek sovereign debt problems, rating agency Moody's has downgraded the ratings of two major French banks, putting a third on watch with negative implications. Economists say the French banking sector needs a Greek debt solution to recover, and could be vulnerable to takeover in the meantime. Duration: 02:03.