Detailed text transcripts for TV channel - CNN - 20100428:16:21:00
Debt decrease and devalued. spain has had a downgrade which doesn't really matter. it's gone from bb plus or bb or variant thereof. but the fact is that what we are seeing is a contagion through all the club med countries. we have now seen greece, portugal, spain, questions will be asked whether it's italy and ireland next. and the core problem remains, we now know that all these countries have been running deficits in the regions of 9%, 10%, 11%. >> look, a lot of these economies got into trouble the same way the united states got into trouble with a meltdown of the financial system. and effo...
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