Fears that Greece's debt crisis will spread to other eurozone nations intensified yesterday when Spain suffered a debt downgrade from Standard & Poor's, sending the euro to fresh lows against the dollar.
The downgrade, by one notch from AA plus to AA, dealt a blow to Spain's frantic efforts to avoid contagion from Greece and followed S&P downgrades this week of Greece and Portugal.
As financial markets continued to gyrate and investors offloaded Spanish stocks and bonds, the head of the Organisation for Economic Co-operation and Development compared the growing debt crisis to the Ebola virus.
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