Image uploaded from a quicklink (Image by Unknown Owner) Details DMCA | Spain's slide down the credit-rating ladder has brought the nation within a hair of junk status and risks triggering contagion in Italy and beyond should investors completely shun its bonds. Moody's said Spain's decision to seek as much as 100 billion euros ($126 billion) of European funds to shore up its banks increased the risk the country would need a full bailout. Spain's aid request and the credit-rating reduction have increased foreign investor flight, leaving the Treasury increasingly reliant on the soon-to-be rescued domestic banking industry to buy its debt. |