Moody's says France, Germany, US and UK must lower spending to preserve their top rating

By @ibtimes on

Moody's Investors Service said France, Germany, US and UK must pose more control over their pension spending and health care subsidies to preserve their AAA rating as the world's top safest debt issuers.

Moody's said France and Germany recorded significant debt increases, but have on balance moved toward deficit reduction, France less aggressively so than Germany.

It also highlighted the announced sharps spending cuts by the UK while US extended the Bush-era tax cuts for another two years.

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