| May 08 |
Spain is not on the Brink: let everything mix.
That Spain’s Prime Minister Jose Luis Rodriguez Zapatero is rather soft and takes difficult steps when there is no other choice is not new. But it is far from alone. The Spanish problem is totally different from that of Greece, and it is customary ignorance of the market which explains the panic of Tuesday. I must say it was caused by an irresponsible attitude of rating agencies that saw fit to reduce the grade of Spain for reasons related to the economic slowdown. This rating remains excellent at AA. (more…) |
