Spain…Decaying From Within
Tuesday October 23rd 2012
images/uploads/SPL Spain Decaying From Within 23-10-12(1).pdf-
Moody’s reduces its ratings on 5 regions.
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2007 the level of sovereign debt to GDP for Spain was 36.3%.
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By 2016, the IMF forecast 101.4%.
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GDP growth of 7.5% pa needed to get debt to GDP back to 70%.
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IMF forecast growth…at best of just 0.5%.
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