7 Oct, 2010 @ 11:48
1 min read
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No more A-plus

SPAIN’S credit rating has slumped following last week’s general strike.

New York credit agency Moody’s has reduced its position from AAA to the next level of Aa1.

It means the country will now have to pay more to borrow money on the international markets.

The agency cited weak economic growth, a deterioration of financial strength and higher borrowing needs as the reasons for the downgrade.

And although the decision was expected it has been greeted with disappointment by Elena Salgado, the finance minister, who had hoped Spain would be left in the top tier.

But in her budget last week she said the government would not waver in its reform plans.

Jon Clarke (Publisher & Editor)

Jon Clarke is a Londoner who worked at the Daily Mail and Mail on Sunday as an investigative journalist before moving to Spain in 2003 where he helped set up the Olive Press.

After studying Geography at Manchester University he fell in love with Spain during a two-year stint teaching English in Madrid.

On returning to London, he studied journalism and landed his first job at the weekly Informer newspaper in Teddington, covering hundreds of stories in areas including Hounslow, Richmond and Harrow.

This led on to work at the Sunday Telegraph, Sunday Mirror, Standard and even the Sun, before he landed his first full time job at the Daily Mail.

After a year on the Newsdesk he worked as a Showbiz correspondent covering mostly music, including the rise of the Spice Girls, the rivalry between Oasis and Blur and interviewed many famous musicians such as Joe Strummer and Ray Manzarak, as well as Peter Gabriel and Bjorn from Abba on his own private island.

After a year as the News Editor at the UK’s largest-selling magazine Now, he returned to work as an investigative journalist in Features at the Mail on Sunday.

As well as tracking down Jimi Hendrix’ sole living heir in Sweden, while there he also helped lead the initial investigation into Prince Andrew’s seedy links to Jeffrey Epstein during three trips to America.

He had dozens of exclusive stories, while his travel writing took him to Jamaica, Brazil and Belarus.

He is the author of three books; Costa Killer, Dining Secrets of Andalucia and My Search for Madeleine.

Contact jon@theolivepress.es

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