Moody's warns Spain that if it fails financially with Catalonia, the whole state will bankrupt

Vilaweb
So far we have not experienced a moment of high tension and if we find ourselves we do not know what can happen, "said Marisol Blázquez, analyst at Moody's

By: Writing

08.02.2017 18:40
The political tension between Spain and Catalonia is carefully analyzed for some time by the Moody's agency, which warns the government of Mariano Rajoy that if it does not comply financially with Catalonia, it can be interpreted as a bankruptcy in Spain. "So far we have not experienced any high-tension moment and if we find ourselves we do not know what can happen," said Marisol Blázquez, an analyst at Moody's and responsible for the Spanish autonomous communities in an interview with Europa Press. "The Spanish government, he added," is not interested in Catalonia being bankrupt, because a default in Catalonia could be interpreted in the financial markets as a bankruptcy of Spain. "
He also recalled that the negative perspective that accompanies the credit rating of Catalonia also reflects the tension, but stressed that Moody's is interested in seeing if the political situation affecting the fiscal situation.
In general, Blázquez highlighted the positive effect of improving the forecasts of economic growth for the autonomous communities, but indicated that it was important to reform the autonomous financing system, beyond updating spending levels, despite He acknowledged that it was too soon to comment on this.