The AAA rating currently enjoyed by British banks’ may be about to change, as the governor of the Banque de France, Christian Noyer, lashed out at the amount of British debt. This statement was made in response to warnings received by the French government that a number of banks across Europe, including France, are being considered for downgrading. Noyer’s outburst continued, as he stated that a downgrade from AAA for France was ‘unjust’, and that the downgrades should start with the UK, which currently has a larger amount of debt, more inflation and weaker growth than France. However, the French economy is expected to shrink both this quarter and the next, suggesting the nation is suffering from recession. In light of this, a warning for Mr Noyer not to throw stones in glass houses appears apt.