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
ISIS to France: "We will be coming. Victory has been promised to us by Allah"
Homegrown French ISIS fighters have issued a chilling threat of new attacks on France just 24 hours after the terrorist group used movie footage of the Eiffel Tower's collapse in another video.
A balaclava-clad militant is seen warning 'we will be coming, we will come to crush your country' in footage posted on Twitter earlier today.
It is unclear where the film ...
ISIS teenage 'poster girl' Samra Kesinovic 'beaten to death' as she tried to flee the group
She appeared in social media images for the group carrying a Kalashnikov and surrounded by armed men
A teenage girl who ran away from her Vienna home to join Isis in Syria has reportedly been beaten to death by the group after trying to escape.
Samra Kesinovic, 17, travelled to Syria last year with her friend Sabina Selimovic, 15.
The two became a ...
The Right Stuff's flagship podcast "The Daily Shoah" has been censored by Soundcloud
Editor's note: The PC corporate moral police strike again. Just as Radio 3Fourteen & Red Ice Radio were censored from iTunes, The Daily Shoah was pulled from Soundcloud today. As per usual, there is a double standard, they allow any kind of anti-White material:
No counter culture humor making fun of the genocidal mainstream garbage is allowed!
Soundcloud took it upon ...
Merkel Welcomes A Million More: Vows To Stand By Refugee Policy Despite Security Fears
Chancellor Angela Merkel vowed on Wednesday to stick to her open-door refugee policy, defying criticism at home and abroad which has intensified due to growing fears about a potential security risk after the Islamist attacks in Paris.
Conservative Merkel faces splits in her right-left coalition and pressure from EU states, including France, over her insistence that Germany can cope with up ...
Paris Terrorist Was Gay 'Rent Boy', On The Run From Islamic State And Police
The elusive eighth Paris attacker and one of three brothers implicated in the atrocity reportedly frequented gay clubs before the attack. He may have backed out of his mission at the last minute, and is possibly on the run from Islamic State as well as authorities.
â€śWe had him down as a rent boy, he was always hanging out with that ...
|More News » |