Search for  in 
spain jobs
backprinttell a friend

Spain's credit ratings cut again by Moody's
ThinkSpain , Tuesday, February 14, 2012

Spain is amongst a number of eurozone countries downgraded again by ratings agency Moody's. The agency also downgraded Italy, Portugal, Slovakia, Slovenia and Malta.

Moody's put France, Britain and Austria on "negative outlook", which implies there is a 30% chance of a downgrade in the next 18 months.

Spain received the sharpest downgrade, having its credit rating lowered two notches to 'A3'.  Italy was cut by one notch to 'A3' and Portugal was lowered by a smaller margin - a step to 'Ba3'.

In its report, Moody's attributed its moves to "the uncertainty over the euro area's prospects for institutional reform of its fiscal and economic framework" and said weak growth could hamper Europe's efforts to deliver economic reform and austerity measures.

Martin Hennecke, associate director of independent investment advisers, Tyche, commented, "The picture is very bleak. The economies in the eurozone aren't improving. Italy in the fourth quarter of last year has gone deeper into recession. [In] Spain there's also no growth this year, [and] the unemployment numbers have been rising."

Print Share Article RSS News Feed
print tell a friend stumble it!  delicious  digg it!  facebook   rss feed View feed | Add to my RSS reader rss feed

Latest ThinkSpain News
Rajoy loses first round of in-house presidential election with identical result to the last: 170 in favour and 180 against
Politics & People - (27/10/2016)
Missing Diana Quer's mobile phone found in river
Crime/Incidents - (27/10/2016)
Vuelta a España winner Aitor González caught breaking into phone shop
Sport - (27/10/2016)
Latest Business/Economy articles
Protests over TTIP and CETA in Madrid, Barcelona, Valencia and beyond
Spain  - (16/10/2016)
Balearics' first bitcoin cashpoint opens in Alcúdia
Balearic Islands  - (3/10/2016)
Inditex profits up by 8% with 83 new stores and 10,000 extra jobs in six months
Spain  - (24/9/2016)
Follow thinkSPAIN on
Facebook Twitter
Spanish news archive Costa Blanca news Costa del Sol news Alicante news Castellon Valencia news Barcelona news Catalonia Costa Brava news Madrid news Tenerife news Canary Islands Malaga news Marbella news Andalucia news Sevilla news Costa Almeria news Murcia news Costa Calida Aragon news Asturias news Balearic news Mallorca Menorca news Ibiza Basque news Bilbao Cantabria news Castilla La Mancha news Castilla Leon news Extremadura news Galicia news La Rioja news Navarra news Spanish Travel Tourism news Spanish Property Spain directory services Spanish Jobs in Spain Postcodes Spanish weather Spain History Spanish Culture Flamenco dancers Sevillanas Bullfighting bullfight bull fighting matador bullfighter Spanish Education Spain Schools Facts about Spain Clubs in Spain mortgages Spanish bank Spain banking Spanish banks Spain inheritance Spanish wills Spanish healthcare in Spain Working in Spain work Spanish employment Driving Spain cars Spanish car Spain Tax & Spanish Residency Property in Spain for Sale Spanish property to rent Spain holiday lets Spain news Spanish Properties costa blanca weather costa del sol weather local news/info Spanish estate agents Off Plan property Spain | Costa Blanca property | Costa del Sol property | Costa de la Luz property | Costa Brava property | Costa Almería property | Costa Cálida property | Costa Valencia property | Costa Azahar property | Costa Dorada property | Costa Garraf property | Costa Maresme property | Costa Vasca property | Costa Verde property | Costa Tropical property | Rías Altas property | Rías Baja property
© 2003-2016 Think Web Content, S.L. - All rights reserved