Spain is next by Zivka Deleva

The virus called Greece spreads today as well. After Portugal was hit with bad place at the ranking of the rating agency Standard and Poor’s yesterday, today it is time for its neighbor – Spain. This country isn’t as bad as Portugal, it has downgraded in one notch, maybe that is not so alarming, but it shows the connection between the economies of the countries in the euro zone. Spain is considered the fourth biggest economy in this zone. The most worried seems to be German Chancellor Andrea Merkel, who is quite in a hurry when it comes to the negotiations between the Greek government, the European Commission and the International Monetary Fund. As time g! oes by, European politicians are more and more concerned how to solve the big issue. The international help for impoverished Greece must come as soon as possible, so the consequences for the European people are going to be less. The common currency continues to fall, and Standard and Poor’s ratings go on with bad grades for the countries with the worst economies in the European Union. It is really strange, how comes a country with such a small economy like Greece is, to have such a huge influence on the others? The compassion and the readiness to help come as well from the US President Barack Obama. He tries to spread optimism but doesn’t mention concrete measures or even bailout for Greece. Europe is drowned in debts. More or less, each government is still trying to recover from the recession, and the thought of giving away a sum of money for someone else, isn’t so easy to be digested.

by Zivka Deleva for Cantell TV (http://cantell.tv)

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