Spain's government calls for calm

The CNN is reporting that Spain's government has called for calm, a day after rating agency Moody's downgraded 16 Spanish banks in the latest sign of distress in Europe.



Among those who saw their ratings lowered were the country's two largest banks.



But the deputy president Soraya Saenz de Santamaria says investors and depositors should remain calm as the government tries to guarantee the solvency and capacity of all the institutions to carry out their obligations.



At a Cabinet meeting yesterday, Spanish ministers agreed that the top priority regarding the economy is controlling the deficit.



editorial@gleanerjm.com