Its not looking good for France as their sovereign risk has been ranked 6th in the world, behind the already troubled Ireland, Greece, Portugal, Italy, and UK, according to RBC.

The Reuters article along with the report points to a France not under siege, but not properly valued.

This could lead to increasing bond spreads between French debt and German Bunds and an increase in the cost of CDS on French debt.

French debt is currently expected to hit 83.2% of GDP in just 2 years.

Mr. Sarkozy may suddenly have to become more austère in his country's budgetary approach.