It has been revealed in recent reports that the year 2011 was a hard time for the finances of Spain. It was revealed by an analyst that the financial disposition of Spain saw probably the roughest times this
year, with their deficits going high and the nation going deep in to debts.
According to the Standard and Poor rating, the nation saw a credit rating AA-minus. This was merely week after the Fitch ratings had placed it on a two notches low at AA minus.
With both the agencies rating it in minus, there could bean impending risk of further cuts to be registered in Spain in the time to come. The reason for these falling standards of the rating for Spain include bad
finances, minuscule growth and the turbulence in the banking sector of the nation. Spain is one of the members of the Eurozone and there is need for all of them to come together to lift themselves out of the
There is need for effective measures to be taken by the authorities of these nations, so that they don’t have to face the same sort of trouble United States saw in the year 2008.
The unemployment rates are on a high and there is inflation that the nation needs to deal with as well.
It is essential that measures are taken for the effective utilization of resources and bringing the nation back to its lost glory.
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