Ad
Madrid. S&P: 'The already high unemployment rate, especially among the young, will likely worsen until a sustainable recovery sets in' (Photo: marcp_dmoz)

Spain downgraded over spiralling recession

Standard & Poor's (S&P) downgraded Spain by two notches on Thursday (26 April) in a sign of persistent investor concern over the stability of the eurozone.

"The downgrade reflects our view of mounting risks to Spain's net general government debt as a share of GDP in light of the contracting economy, in particular due to the deterioration in the budget deficit trajectory for 2011-2015," S&P said in a statement announcing the downgrade to BBB+ from A.

It also said further downgrades...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
Madrid. S&P: 'The already high unemployment rate, especially among the young, will likely worsen until a sustainable recovery sets in' (Photo: marcp_dmoz)

Tags

Ad

Related articles

Ad
Ad