Friday 27 April 2012

Spain's Struggle with High Unemployment

More people are out of work in Spain now than at any time since records began. The new figures, announced on Friday, show that almost a quarter of the workforce are now unemployed. It comes just a day after ratings agency Standard and Poor's cut the country's credit rating two notches to Class B. with warnings that the country's economy could get worse. Al Jazeera's Sonia Gallego reports now from Madrid.


THE DAILY TELEGRAPH: S and P cuts Spain's credit rating by two notches to BBB+: Standard and Poor's cut Spain's sovereign debt rating Thursday by two notches, warning that the government's budget situation is worsening and that is likely to have to prop up its banks. » | AFP | Thursday, April 26, 2012

THE DAILY TELEGRAPH: S and P downgrades Spain: the full document » | Thursday, April 26, 2012