Brussels, 14/10/2011 (Agence Europe) - A blow to confidence was struck on Friday morning, 14 October, when credit rating agency Standard and Poor's announced that it had downgraded Spain's debt by one notch to AA- due to uncertain growth prospects and the expected deterioration of the country's banking system. The European Commission made reassuring noises, pointing out that Spain has taken measures to consolidate its public finances.
AA- is the fourth highest rate and denotes high quality...