Navigation

 
Please note:
You are in the euro|topics archive. For current articles from the European press review, please go to www.eurotopics.net.

Home / Index of Authors


Psotta, Michael


RSS Subscribe to receive the texts of "Psotta, Michael" as RSS feeds


1 article of this author has been cited in the European Press Review so far.


Frankfurter Allgemeine Zeitung - Germany | 01/06/2010

Economic crisis puts Zapatero under pressure

The rating agency Fitch has lowered the credit rating of highly indebted Spain from AAA to AA+, prompting the conservative daily Frankfurter Allgemeine Zeitung to analyse the reasons for Spain's faltering economy: "A certain insouciance coupled with an oversized self-confidence explain why Spain is rather ill-prepared for the crisis. [Prime Minister Rodríguez] Zapatero now faces primarily three sets of problems, all of which demand an urgent solution. The huge budget deficit of over 11 percent of GDP must be reduced to improve the country's creditworthiness. The job market must be made more flexible to induce growth once more. And the ailing savings banks which constitute roughly half of the Spanish banking market must be consolidated in an intelligent way to prevent them collapsing under the burden of rotten home loans. ... [Zapatero] still has a razor-thin margin of support, but even that could fade away in the autumn when the budget for 2011 is put to a vote."

» Index of Authors


Other content