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July 30th, 2012 
FAKE NEWS for the Zionist agenda
From: PressTV.ir
Spains 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 Spains debt bonds climbed to a record high of 7.39 on Monday causing the euro to take a nosedive versus the US dollar and Chinas 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 Moodys Investors Service changed the outlook for the ratings of Germany, Luxembourg, and the Netherlands to negative from stable, citing the uncertainty about the eurozones ongoing debt crisis. If fears over the eurozone financial crisis continue to rise over the next months, Germanys AAA-ratings as Europes number one economy will be lowered.
The recent development comes as financial markets believe Spains economic woes go far beyond the countrys ailing banks that have been grappling with major economic problems.
Global investors say the single currency areas economic situation will remain critical considering the amount of the Spanish governments debt, which demands capabilities beyond the current European mechanisms for assisting the eurozone member states, Greeces worsening economic crisis and its possible exit from the 17-nation bloc, and also Italys 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 countrys economic growth has been negative during the past nine months.
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Read the full article at: presstv.ir
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