AoC-, EU- related topics, global governance, NewAgemind-+soulCrimes, books+films, endtimes, ...
Wednesday, April 28, 2010
Spain is next
"Spain next to get credit rating cut
(UKPA) – 1 hour ago. Europe's debt crisis mushroomed as Spain had its credit rating lowered, just as Germany tried to reassure nervous investors that Greece's economy would not be allowed to go under.Stock and bond markets had begun to regain their composure after downgrades of Greece and Portugal the day before, when Standard & Poor's delivered more bad news by cutting Spain's rating to AA from AA+ amid concerns about the country's growth prospects following the collapse of a property bubble."We now believe that the Spanish economy's shift away from credit-fuelled economic growth is likely to result in a more protracted period of sluggish activity than we previously assumed," Standard & Poor's said. Spain is considered the key to whether Europe's debt crisis can be resolved - its economy is much larger than that of Greece and Portugal and, many in the markets believe, may be just too big to bail out if it gets into serious trouble.."...more:Link