SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tom Clarke who wrote (361687)4/28/2010 12:06:44 PM
From: Alan Smithee2 Recommendations  Read Replies (2) of 793914
 
Is Spain next?

Spain debt downgraded by Standard & Poor's

Spain debt gets downgraded by Standard & Poor's amid subdued economic growth

On Wednesday April 28, 2010, 11:43 am

LONDON (AP) -- Credit ratings agency Standard & Poor's has downgraded Spain in another widening of Europe's government debt crisis.

The move Wednesday follows its reductions of Portugal and Greece, which sent shock waves through world markets.

The agency says its decision to downgrade Spain's credit rating by one notch to AA from AA+ is due to its expectation that the country will suffer an "extended" period of subdued economic growth.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

BERLIN (AP) -- Chancellor Angela Merkel says Germany "will make its contribution" to bailing Greece out of its financial crisis -- but only if its government agrees to new austerity measures in the next few days.

Greece says it can't pay debts coming due May 19 without euro45 billion ($59.8 billion) in loans from the countries that use the euro as well as the International Monetary Fund.

Markets are worried that Germany's demand for strict conditions will prevent Greece from getting the money.

Germany would be the biggest single contributor with some euro8.4 billion.

Merkel said after meetings with IMF chief Dominique Strauss-Kahn on Wednesday that "Germany will make its contribution but Greece has to make its contribution."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News