Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3. The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports.... 

Spain will take its dispute with Britain over the sovereignty of the Gibraltar Rock to the United Nations, Spanish Ministry of Foreign Affairs says, after the provocative projection of British Queen’s giant image on the Rock earlier this week. The image of the Queen was projected on the northern face of the rock next to Britain’s flag on Tuesday night as the youngest son of the Queen and his wife... 

Fitch says the downgrade reflects negative economic and market environment in Spain. Fitch credit ratings agency has downgraded Spain’s rating by three notches citing the country’s banking crisis, mushrooming debt and recession as the main reasons for the downgrade. The international agency announced on Thursday that it has cut Spain’s long-term foreign and local currency to ‘BBB’... 

A Euro coin with the Spanish national flag in the background. A recent report released by a Spanish institution says 25 percent of Spain’s population lives below poverty line, 2 percent higher than last year, as the country grapples with the highest rate of impoverishment among European states. According to an annual report issued by the Spanish Economic and Social Council (CES), lack of jobs for... 

Spain’s Minister of Finance and Public Administrations Cristobal Montoro The Greek stock market has plummeted 5.9 percent after Standard & Poor’s credit rating agency warned that the country has a one-in-three chance of leaving the eurozone. The minister made the remarks on Tuesday, admitting that Spain’s high borrowing costs have shut out bond markets at a time when the country seeks... 

A euro coin with the Spanish national flag in the background. The European Commission says Spain is on top of the list of the eurozone 12 critical economies as new reports show investors flee Spain amid the deepening financial crisis. Affected by Greece’s economic woes, the Commission on Wednesday listed Spain and Cyprus as two European states in “very serious” trouble. “Spain faces... 

Moody’s Investors Service The European banking industry has suffered another crushing blow after Moody’s ratings agency downgraded the credit ratings of 16 Spanish banks, citing the weakened government’s ability to support some banks. The agency downgraded the long-term debt and deposit ratings by one to three notches for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsidiary of Banco... 

May Day demonstrators protest in Paris, France, May 1, 2012 Tens of thousands of Europeans have held huge rallies and coordinated general strikes for May Day to protest against tough austerity measures and poor economic conditions. Workers across the world have taken to the streets to mark the International Workers Day, the annual May Day workers’ event held on May 1 – with demonstrators... 

A rally has been held to back Argentine president for her decision to expropriate 51 percent stake in energy company YPF from its controlling shareholder, Spain’s Repsol, Press TV reports. Ruling party top officials and lawmakers joined the rally on Friday at Velez soccer stadium in Buenos Aires, where demonstrators waved national flags. “When I announced I was sending this project to the congress,... 

Real’s old (L) and new logo (R) Spanish football giants, Real Madrid, have decided to make changes to the club’s logo, getting rid of the cross, which was present on the emblem for nearly a century. ­The rebranding was needed in order to strengthen Real’s popularity among Muslim football lovers in Europe and the Middle East. The Spanish Marca newspaper is citing a source in the club’s... 

Spanish workers hold an anti-austerity march in Madrid, March 23, 2012. Spanish workers in the industrial sector have staged a demonstration in Madrid to protest against the government’s tough austerity measures amid mounting fears of the country’s economic meltdown. The demonstrators staged a march in the capital on Friday to demand an end to the government’s cutbacks and labor reforms,... 

The Spanish government’s debt has hit a record high as Madrid struggles to cut expenses and escape the eurozone debt crisis. According to data published by Bank of Spain on Friday the country’s debt reached 734.96 billion Euros (USD 960 billion) at the end of 2010. This is equivalent to 68.5 percent of Spain’s gross domestic product (GDP), while three months earlier Spain’s public debt... 

Thousands of Czech university students rally in central Prague on February 29, 2012. Massive demonstrations across Europe have taken issue with the austerity measures adopted by the European governments against economic adversity. The protests were held on Wednesday in the Czech Republic, France, Greece, Belgium, and Spain against government economic reforms aimed at dealing with the unprecedented... 

Spain's Prime Minister Jose Luis Rodriguez Zapatero at a press conference at the Moncloa Palace in Madrid, September 26, 2011, after dissolving the country's parliament. Spanish Prime Minister Jose Luis Rodriguez Zapatero has dissolved the country’s parliament two months ahead of the next parliamentary elections. Zapatero had earlier in the year announced that he would not seek a third... 

Thousands of Spaniards demonstrated in Madrid, as they were upset their governments handling of the economy. Spain. 17th August 2011 Thousands of Spaniards have launched rallies in the Spanish capital Madrid against their government’s austerity measures, Press TV reported. The three-day protest starting on Tuesday was initiated by Spain’s two largest trade unions, the Comisiones Obreras...