Many Spaniards are angry over austerity measures and widespread unemployment [Reuters] Spain’s economic recession has double-dipped in the first fiscal quarter, as the country faces intense pressure from the European Unionto solve its financial problems and growing public unrest against austerity measures, new data shows.The official data was released on Monday amid new quarterly unemployment figures showing nearly 25 [...]
Posts Tagged ‘ Standard & Poor ’
Spain’s economic recession double-dips Latest figures come amid quarterly unemployment data showing nearly 25 per cent of the population as out of work.
AP / Margarethe Wichert / dapd By Nomi Prins Standard & Poor’s likes moving on Friday nights after the markets are closed. It was on a Friday night that it downgraded U.S. debt to AA+ from AAA. And on Friday night, Jan. 13, it downgraded France and Austria from AAA to AA+ and seven other European [...]
Sarkozy to meet Spain’s PM amid euro woes Leaders of two states to hold talks after their country’s credit ratings were downgraded, together with eight others.
Since becoming prime minister, Rajoy has taken steps to deal with Spain’s high unemployment rate [AFP] French President Nicolas Sarkozy is in Spain for talks with Mariano Rajoy, the country’s new prime minister, that are likely to be dominated by a sweeping credit downgrade that has reignited fears over the financial stability of the eurozone. Sarkozy, in remarks published [...]
The ITEM club forecasts that unemployment will approach three million in 2012, representing 9.3% of the UK’s labour force Photograph: Danny Lawson/PA The UK is likely to already be in recession, according to two highly regarded economic forecasters, as developments in the eurozone paralyse the country’s recovery. The Ernst & Young Item Club and the [...]
Degrade This: Wall Street’s Ratings Agencies Undermine Europe’s Attempt at Recovery Acting Like Financial Terrorists by Danny Schechter
Degrade This: Wall Street’s Ratings Agencies Undermine Europe’s Attempt at Recovery Acting Like Financial Terrorists by Danny Schechter We live in an increasingly degraded country. Our politics are degraded and a laughing stock to the word. Our military is demoralized and degraded with soldiers urinating on dead civilians and awaiting deployment orders for the next illegal [...]
Eurozone in new crisis as ratings agency downgrades nine countries Standard & Poor’s strips France of its AAA credit rating, rekindling fears in the markets over future of single currency
In a touching few moments in the economic lunacy charade why not as, isn’t this the same credit agency that rated subprime and get rich quick tricks AAA? Seems all is forgiven and apparently now their assessment has somehow come good. This is a real tribute to the power of propaganda as so many swallow [...]
Dennis Skley (CC-BY-ND) By William Pfaff The American rating firm Standard & Poor’s warned 15 European nations on Monday, including Germany and France, that unless they solve their currency problems this week, to the satisfaction of S&P, a business corporation, this company will “downgrade” them, with the effect of increasing the interest they must pay on their [...]
A euro sculpture in front of the European Central Bank building in Frankfurt. Photograph: Michael Probst/AP Eurozone ministers hit back at S&P downgrade threat: live • S&P threatens mass downgrade of eurozone states • Greek parliament to vote on 2012 budget • British Retail Consortium reports biggest sales fall for six months 2.41pm: If you’ve been [...]
Eurozone warned of credit downgrades after Germany and France strike deal Merkel and Sarkozy spark relief in markets after agreeing package of measures to take to EU summit
Germany and France are among the nations threatened with a credit downgrade by Standard & Poor’s. Photograph: Charles Platiau/Reuters The grand bargain struck by Germany and France to save the euro and restore confidence in the single currency was facing its first challenge within hours of being negotiated, after 15 eurozone nations were warned that their credit [...]