Despite the warning agency credit ratings, Standard & Poor's (S & P) on Monday that the agency could lose two rating points from the current "AAA" (maximum possible), the French government decided not to implement any measures additional austerity.

François Baroin, Minister of Finance of France, said in an interview with television France 3, only a few minutes after S & P decided to euro area countries under observation for a possible reduction in the rating, the decision of the Agency has not considered joint proposals made by Nicolas Sarkozy, French president, and Angela Merkel, German chancellor earlier in the day, CNBC shows.

"The problem is a matter of confidence in the euro area. We need a deeper integration at the budget, "said Baroin. "We do not need a third austerity plan. We do not need additional measures. What we need is to strengthen European policy, "he added.

Concerns about debt and French banks' exposure to ailing economies on the periphery of the euro area held "hexagon" sovereign debt crisis among vâltorii, despite the efforts of the center-right government to support public finances.

French government is affected for months the possibility of a reduction in the country rating, which would increase borrowing costs in the country with 3 billion annually in lost rating point.

But unlike other countries that are rated "AAA", and could only lose one point, officials said S & P that France could lose more.

"It is possible to reduce the country's rating by two points. On the other hand, if our concerns are contradicted by what we consider to be appropriate policy actions, we can reaffirm the rating of "AAA", "S & P officials said

In a joint statement, published by S & P announcement, Sarkozy and Merkel have said that their governments are united in their determination to do whatever is necessary to ensure stability of the euro area.

The two leaders said they had been informed by S & P decision, but stressed that the Franco-German proposal presented earlier in Paris, will be able to ensure stability in the monetary union.

"Germany and France reaffirm their conviction that the proposals presented today by both governments will strengthen fiscal and economic coordination in the euro area, thus ensuring the stability, competitiveness and economic growth in this area," reads the joint statement.

Sarkozy and Merkel revealed Monday in Paris, a plan to enforce budgetary discipline in the euro area, considering that the fundamental treaty of the European Union will be modified to deal with sovereign debt crisis.

In response, officials of S & P believes that budgetary measures announced by the French government seem insufficient to achieve the deficit target for next year of 4.5% of GDP, where the government estimates economic growth of 1% on 2012 prove optimistic.