Since the economic threat to the Eurozone has major consequences to us all and also to the Spanish property market I think this topic and others like it are very relevant. Other peoples ideas and views when constructive are always interesting. Information and debate broadens knowledge.
The recent downgrades by S&P seem to have shocked French and German leaders towards taking further measures of budget austerity.
In my view action such as this by ratings agencies and the bond market will eventually be the major tool in forcing Germany to think again about treaty change and direct government financing by the ECB.
In truth that is the only realistic way to solve this crisis and get Europe’s economy working again.