Spain came under renewed pressure to formally ask for a financial bailout after a ratings agency cut the country's credit worthiness to one point above junk.<br /><br />Immediately after the move by Standard and Poors, the cost of borrowing spiked, but fell back.<br /><br />Spain's economy is in a mess and the agency said that Madrid's refusal to ask for aid could pull the credit rating down still further.<br />...<br />http://www.euronews.net/
