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Friday 15 December 2017

Spanish rating cut

SPAIN'S government debt rating has been slashed by agency Moody's Investor Services as fears of the government's "very limited" access to international debt grows.

The agency said that despite the agreed terms of the bailout with the EU, the country is still facing a severely weakened economy.

Eurozone finance ministers agreed on Saturday to lend Spain up to €100bn to shore up its banking system.

Unemployment in Spain is running at over 24pc and is even higher among those under the age of 25.

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