[Iran Press TV] Moody's Investors Service has downgraded the credit rating of Spain by three levels, days after the country secured 100 billion euros (125 billion dollars) to rescue its banks.
The credit rating agency said on Wednesday that the bailout "will further increase the country's debt burden, which has risen dramatically since the onset of the financial crisis," AFP reported.
Moody's cut three notches from A3 to Baa3, which is the lowest level of "investment grade" or just above "speculative" or "junk" grade.
#6
pulled most of my 401K money left in Janus Overseas Fund (JAOSX) this Spring. I see bad things abroad, and no real chance the PIGS+ will make the tough decisions (see: France) for an adult path correction. Before 2008, Janus kicked ass.
Posted by: Frank G ||
06/14/2012 11:10 Comments ||
Top||
#7
The architects of the EMU and the euro asserted that one goal was to "counterbalance" the US and the dollar. In fact, the whole mess was predicated on, assumed, and required continued US strength and growth.
Some counterbalance, that can't hold itself up. I doubt there will be any Marshall Plan this time guys, sorry.
Incident at Oslo school barbecue comes after reported long-term antisemitic bullying. School officials uninterested. Norwegian embassy in Israel again rejects what they see as an attempt to paint Norway as an antisemitic country, though there have been a number of reports in the European press over the years indicating a systemic problem ignored by teaching staff and legitimized by statements from government officials.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
Moody's Investors Service has downgraded the credit rating of Spain by three levels, days after the country secured 100 billion euros (125 billion dollars) to rescue its banks.
