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Barcelona cathedral. Moody's has fears about Spanish banks' balance sheets, but markets seem unfazed so far by events in neighbouring Portugal (Photo: vgm8383)

Top politicians: Spain is not Portugal

Amid speculation that Portugal will soon become the third eurozone state to apply for a sovereign bail-out, Spanish figures have been wheeled out to stress the difference between the two Iberian neighbours.

Spain's man in the European Commission and the man in charge of EU competition policy, Joaquin Almunia, on Thursday (25 March) said that Madrid's cutbacks and restructuring was successful in convincing markets of the country's resiliency.

"The evolution of (economic) indicators...

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Barcelona cathedral. Moody's has fears about Spanish banks' balance sheets, but markets seem unfazed so far by events in neighbouring Portugal (Photo: vgm8383)

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