Storm looming in eurozone as Spain economy falters
Spain’s worsening economic crisis and fears that the cash-strapped country might need a bailout that the eurozone can barely afford have caused a violent economic storm in European financial markets.
Fears soared high after the interest rate on Spain’s debt bonds climbed to a record high of 7.39 on Monday causing the euro to take a nosedive versus the US dollar and China’s Yuan, a recent report by Radio France Internationale (RFI) said.
While every euro was dealt for USD 1.20, most financial and economic experts in Europe expect further fall in euro-dollar parity during the coming weeks.
Meanwhile, on Monday Moody’s Investors Service changed the outlook for the ratings of Germany, Luxembourg, and the Netherlands to negative from stable, citing the uncertainty about the eurozone’s ongoing debt crisis. If fears over the eurozone financial crisis continue to rise over the next months, Germany’s AAA-ratings as Europe’s number one economy will be lowered.
The recent development comes as financial markets believe Spain’s economic woes go far beyond the country’s ailing banks that have been grappling with major economic problems.
Global investors say the single currency area’s economic situation will remain critical considering the amount of the Spanish government’s debt, which demands capabilities beyond the current European mechanisms for assisting the eurozone member states, Greece’s worsening economic crisis and its possible exit from the 17-nation bloc, and also Italy’s falling economy. As a result, many analyst wonder whether Spain can be still considered a financially creditable state.
The bitter fact to admit is that Spain is experiencing a seriously critical economic situation with all its macroeconomic indicators having crossed the red line. Moreover, the country’s economic growth has been negative during the past nine months.
Read the full article at: presstv.ir
A new stage in the euro crisis
The eurozone’s religious faultline
Government by the Banks, for the Banks: The ESM Coup D’Etat in Europe
The Gang of Four: Presidents propose power of eurozone authorities over national governments
Latest News from our Front Page
Sweden may be at war "in a few years" - top brass in leaked document
In a few years Sweden may be engaged in a war with a “qualified opponent” after two centuries of peace, a senior Swedish commander has told soldiers in an internal brochure.
The alarming message was reportedly sent by Major General Anders Brännström, the Army chief, in a brochure distributed among the participants of a major annual event that is to open ...
Danish imam urges govt to accept child marriages among refugees
A high-profile imam has urged the Danish government to accept child brides, as the practice is part of the culture of many refugees arriving in the country. It follows an announcement by Denmark that such couples will be separated under Danish law.
Imam Oussama El-Saadi, of the Aarhus mosque in Denmark, said that child brides should be looked at from a ...
White Parents in Virginia Shutdown White Guilt Video!
You see folks? This is what happens when you stop blaming the Joo, and you get the fuck off your favorite bitch corner and start taking action! This is what happens when parents start parenting again! What? You’re gonna brainwash our kids with your filth and lies? We don’t think so. How would you like an empty school with no ...
Hungarian Top Economist: Civil War is Coming to Europe
Zsolt Bayer, Hungarian journalist, publicist, and co-founder of Hungary's currently ruling political party, and Dr. László Bogár, former politician and leading economist, discuss the Cologne sexual assualts committed by migrants on New Year's Eve, 2016.
This short part of the 60-minute long television program that aired on Echo TV on January 8, 2016, is of a rant by Mr. Bogár warning ...
British scientists granted permission to genetically modify human embryos
The Francis Crick institute will genetically edit the leftover embryos from from IVF clinics
British scientists have been granted permission to genetically modify human embryos by the fertility regulator.
The scientists want to deactivate genes in leftover embryos from IVF clinics to see if it hinders development.
It will only be the second time in the world that such a procedure has ...
|More News » |