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Moody's slashes Spain debt ratings three notches
Jun 14th, 2012
NEW YORK (Reuters) - Credit ratings agency Moody's Investors Service cut its rating on Spanish government debt on Wednesday by three notches to Baa3 from A3, saying the newly approved euro zone plan to help Spain's banks will increase the country's debt burden. Moody's, which also said it could lower Spain's rating further, cited the Spanish government's "very limited" access to international debt markets and the weakness of the national economy. The rating is on review for possible further downgrades, which could come within the next three months, Moody's said. ... (Source: Reuters) -
MADRID (Reuters) - Small investors in shares of in Spain's nationalised lender Bankia suffered new massive losses on Thursday as the stock plunged by more than 50 percent amid an abnormally high volume of trading which the stock market regulator said would be looked at closely. Tens of thousands of small savers, who were often missold preferen... [Full Article]
CARDIFF (Reuters) - Britain may be as much as three quarters of the way through the process of working off the high debt levels which have weighed on the economy since the financial crisis, a top Bank of England policymaker said on Friday. Paul Fisher, one of nine members of the bank's rate-setting committee, said growth would remain weak whil... [Full Article]
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