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And bizarrely his response tonight suggests he is not reflecting on why things have gone so badly wrong, but using this downgrade as one more reason to plough on with his failing plan – regardless of the damaging impact on struggling families and businesses.
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Spiro believes that French debt looks "more and more overvalued relative to fundamentals", and believes Moody's downgrade is belated, as: This is a "Chirac/Sarkozy downgrade" as much as a "Hollande" one.
8.41am BST With delicious timing, the Moody's downgrade came as one of Germany's economic wise men claimed that the financial markets had failed to recognise Italy's recent progress.
Citigroup shares fell 10percentt yesterday as one analyst downgraded the stock on growing concerns about the bank's potential losses in Latin America and its liabilities related to Enron and WorldCom.
This matters for the downgrader as well as the downgraded.
The C.I.A. will continue to be downgraded, and the agency will increasingly serve, as one government consultant with close ties to the Pentagon put it, as "facilitators" of policy emanating from President Bush and Vice-President Dick Cheney.
The EITI downgrade removed Azerbaijan's most prominent - as well as one of the last - transitionalist fig leafs, but it hardly came as a surprise.
After the scandal, agencies downgraded Vietnam's credit rating and cited Vinashin as one of the reasons.
And she is now blaming President Obama for the downgrade -- a craven bet that Americans are too clueless to know that Bachmann and her band drove the country into the economic paralysis that S&P cited as one the main reasons for the downgrade.
Losing the free-agent guard Randy Thomas to the Washington Redskins during the off-season is looming as one of the Jets' most significant downgrades this season.
AE Stallings dramatises this resourcefulness by repurposing a news headline, "Greece Downgraded Deeper Into Junk", and using that headline's last word as one of the two repeating rhymes of a villanelle embedded in a prose poem.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com