-:Undertaker:-
14-06-2012, 05:55 PM
http://www.telegraph.co.uk/finance/debt-crisis-live/9332323/Debt-crisis-possibility-for-further-Moodys-action-on-Spain.html
Spanish bond levels hit 7% today as Euro contagion spreads
Moody's credit ratings agency slashed Spain three notches to Baa3 on Wednesday, its lowest investment grade rating. The credit ratings agency said the newly approved eurozone plan to help Spanish banks would increase the country's debt burden. Eurozone finance ministers agreed on Saturday to lend Spain up to €100bn (£81bn) to shore up its teetering banks, a move that did little to reassure markets.
Professor Pablo Triana, from Spain's ESADE Business School, warned that this may not be the end to Moody's action on Spain. "The rating by Moody's has not been just a rating but we've also been placed on negative watch," Professor Triana said. "Moody's has stated that it's going to wait for developments but that there is a possibility for further action on Spain and junk status." But he added that the ratings slashing was "not a surprising development". "Moody's has been warning about it and it's one of the ironic consequences of the bailout plan for the banks."
Just today Italian bonds have jumped and earlier today Spanish bonds hit the crucial 7% mark.
Farage responds to £100bn Spanish bailout..
http://www.youtube.com/watch?v=K4ElFN77nkg
I was speaking to a German exchange student yesterday about the crisis, and he said Germans were very angry - he wanted out of the Euro and out of the European Union. It's rather important, because Germany has always been bullied by other nations into accepting the yoke of the EU project under the banner of war guilt - when I said this to him he nodded earnestly.
Thoughts?
Spanish bond levels hit 7% today as Euro contagion spreads
Moody's credit ratings agency slashed Spain three notches to Baa3 on Wednesday, its lowest investment grade rating. The credit ratings agency said the newly approved eurozone plan to help Spanish banks would increase the country's debt burden. Eurozone finance ministers agreed on Saturday to lend Spain up to €100bn (£81bn) to shore up its teetering banks, a move that did little to reassure markets.
Professor Pablo Triana, from Spain's ESADE Business School, warned that this may not be the end to Moody's action on Spain. "The rating by Moody's has not been just a rating but we've also been placed on negative watch," Professor Triana said. "Moody's has stated that it's going to wait for developments but that there is a possibility for further action on Spain and junk status." But he added that the ratings slashing was "not a surprising development". "Moody's has been warning about it and it's one of the ironic consequences of the bailout plan for the banks."
Just today Italian bonds have jumped and earlier today Spanish bonds hit the crucial 7% mark.
Farage responds to £100bn Spanish bailout..
http://www.youtube.com/watch?v=K4ElFN77nkg
I was speaking to a German exchange student yesterday about the crisis, and he said Germans were very angry - he wanted out of the Euro and out of the European Union. It's rather important, because Germany has always been bullied by other nations into accepting the yoke of the EU project under the banner of war guilt - when I said this to him he nodded earnestly.
Thoughts?