Spain appeals for market calm after credit downgrade
Spain appealed Wednesday for market calm after ratings agency Standard & Poor's cut the country's credit rating, with the deputy prime minister saying the government was cutting the public deficit.
"We have a very serious plan of fiscal consolidation and of deficit reduction. We have adopted an austerity programme, we have put in place a labour market reform," Maria Teresa de la Vega told reporters.
"We are adopting all the measures needed to meet our commitments. So I want to send a message of confidence to the population and of calm to the markets."
© 2010 AFP