Europe’s fourth largest economy Spain had its credit rating downgraded on Thursday 24 hours after Greece and Portugal were lowered.
The rating downgrade is not a surprise to those who have understood the macroeconomic picture.
The timing seems to be an interesting factor.
How would things unravel from here? Will global wide quantitative easing begin?
What would be the role of the IMF, along with the EU?
Who is the largest contributor to the IMF?
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