S&P downgrades Spain's long-term debt rating

As was reported to be a possibility last week, Standard & Poor have officially downgraded their rating for Spain's long-term debt from AAA- to AA+. Spanish Economy Minister Pedro Solbes claimed in an interview published yesterday that whilst the downgrade was not "an insignificant issue" ("un tema despreciable"), it did not go "further" ("más lejos"). He downplayed the change by stating that