The President of Fitch Considers that the National Debt Issue in Spain,Greece and Portugal is “Annoying”

The president and founder of Fitch Ratings, Marc Ladreit de Lancharrière, pointed today that the situation of countries like Spain, Greece and Portugal in front of the market pressure to contain national debt is “Worrying”. Discarded, However, further risk in other countries like the Eurozone.

Speaking in the French Radio Europe Ladreit pointed that the situation in these three countries supposes a new form of financial crisis, highlighted that “the important is the credibility they could suggest”.

The economist pointed that both France and Germany aren’t threatened with a national debt issue, because they dispose of credibility for the investors. “In France and Germany we are so lucky that we have 2 pilots in the airplane” said.

We shouldn’t retreat the emergency plans in order to contain national debt

Furthermore, said that the financial crisis “hasn’t still totally ended”. “New issues appear day after day, month after month”, pointed using the example of the Bankrupt in Dubai World two months ago. So, opted for keeping the stimulus plans to boost the economy rather than trying to contain the national debt. “Its essential to keep the stimulus plans in order to boost the economy, because the growth rates for 2010 are still very weak”,said.

About the case of Greek national debt, pointed that “there are a lot of things that aren’t normal” in the Greek economy, a country that never followed European directives about control of National Debt. However highlighted that “it’s imperative to help Greece”, something that the Maastricht treaty “does not allow to do at the moment”.

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4. The Greek National Debt Isn’t Trash After All
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