Another ratings cut for Spain from S & P # 14.10.2011 12 Uhr # Journal Englisch

The threats to the economic health of the Eurozone appear to be growing. Today, markets are worried again over Spain. The ratings agency S&P cut Spain's credit rating--saying the jobless rate of 21 percent makes it unlikely that consumers will be able to spend more and help push the economy. S&P has cut its rating for Spain three times since 2009. Today's move already sending the euro lower--ending its first weekly advance in a month.