Ad
Bundestag: transferring budget powers to Brussels would likely mean Germany would have to hold a referendum (Photo: BriYYZ)

Germany opens door for crisis solution as Spain downgraded

Moody's on Wednesday (13 June) was the last ratings agency to strip Spain of its A status, making it harder for the government and banks to borrow money, despite recent bail-out plans.

The US-based agency downgraded Spain from A3 to Baa3 - one notch above so-called 'junk status' where investors are no longer guaranteed a safe repayment on the bonds. It also warned it may soon further downgrade the eurozone country.

Moody's is the last of the three largest ratings agencies to sla...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
Bundestag: transferring budget powers to Brussels would likely mean Germany would have to hold a referendum (Photo: BriYYZ)

Tags

Ad

Related articles

Ad
Ad