France is likely to be loosing its AAA credit rating soon, and yet, their situation isn't that different to ours. Their unemployment rate is similar to the British rate and their exports and manufacturing industry far exceed ours. Frankly, on paper it should be the UK loosing its credit rating and not France. Yet the UK seems to maintain its credit rating all the time while other countries around us are being continuously downgraded. I'm guessing its because the perception of the UK is a highly politically stable country with well-behaved, globalised politicians who would rather the country starved than not pay a debt back? Whereas countries like France, Greece, Spain, etc have fiery, hot-headed people with a fiercely independent streak who are just as likely to turn around and tell the lenders to **** off and not repay their debts. As a result, they are seen as more risky, less stable, volatile markets and thus they have lower credit-ratings. Would you say this analysis is more or less correct?