Prime Minister Mariano Rajoy warned this week that the country risked being frozen out of capital markets because of the sky-high interest rates, or yields, it would have to pay to maintain its debt.After Spanish markets closed Thursday, Moody's announced that it had downgraded the credit ratings of four of Spain's 17 semiautonomous regions that function much like U.S. states. Overspending and debt accumulated by these regional governments has added to the country's economic problems.
Spain Banking Sector Shaken By Report Of Bank Run
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