So it looks like Nicolas Sarkozy is gearing up to announce his formal campaign for reelection tomorrow.

In one sense, the optics will be horrible given Moody’s Monday downgrade — in one fell swoop, the credit ratings agency downgraded Spain, Italy, Portgual and others, while shifting the outlook on France’s current Aaa rating to “negative.” Standard and Poor’s downgraded France’s credit rating from Aaa to Aa last month, in what was seen as a stinging rebuke to Sarkozy.

But then again, it’s long seemed clear that the European debt crisis could also be Sarkozy’s key to victory. Continue reading The field, c’est moi →