The last straw: rating agencies urge Spain to be rescued by the UE

Thursday, August 30, 2012

Amidst the whirlwind involving sovereign debt, risk premiums and the conditions for obtaining the famous “line of credit”, Standard & Poor’s –well-known for its impartiality!- announced on August 22 that if Spain requests a rescue, in which speculators will earn millions, it will not lower our country’s rating as it had intended to do.

When will institutions, both public and private, stop playing these shameful games, which have devastating effects on economies that suffer from continuous budget cuts (including cuts in education, healthcare and science), as if they were inevitable, instead of being offered incentives for economic development and the creation of jobs?

When will there be a popular outcry against EU leadership in which 26 of the 27 Member States merely obey “reference guidelines” affected negatively by the rating agencies announcements?