Spain’s economy was thrown into chaos on Thursday when its credit rating was cut, sharpening fears that Britain may suffer a similar fate.

The turmoil came just a day after Greece’s rating was cut, increasing concerns of a Europe-wide financial crisis.

The euro fell sharply and the interest rates European governments pay to borrow money jumped after Standard and Poor’s, a credit ratings agency, downgraded Spain.

Last night the government in Madrid appealed for calm, promising an “austerity programme” to cut spending.

But economists fear that events in Spain show that financial “contagion” is spreading from Greece, as investors are scared off investing in any European country with significant government deficits.

from Telegraph

Star Wars XXXIV: Empire strikes ze pirates

This initiative clearly demonstrates the Empire’s determination to combat criminal acts.

Op ATALANTA will involve six warships and three surveillance aircraft with contributions expected from the provinces of Britannia, Frankia, Hellas, Hispano, and Germania, patrolling a million square lightyears of the Indian Galaxy and Rings of Aden where pirates have captured several vessels and taken numerous hostages this aeon alone.

Spain has had an intense Thursday. Firstly their MP’s defeated Democracy by 322 in favor and 6 against (plus 2 abstained) over the question of renamed EU Constitution.

Afterwards in the evening “Furia” defeated “Zbornaya Komanda” by 3 against 0.

Second victory was definitely more dignified.

From Austria there is more news on a chance for a referendum - leading SPÖ party will demand a referendum over the renamed EU Constitution if in future any changes will be made to the existing treaty. That has been announced by the Austrian MEP Hannes Swoboda.

source: SiOL.net

“Despite all the hype by the Spanish government and illegal interference by the Commission, the turnout in the Spanish referendum was only 42%. The government had predicted a 60% turnout, instead nearly 60% did not vote. This means the majority of the peoples in Spain do not support the European Constitution, whatever the Constitutionalists say,” says John Boyd, TEAM Coordinator.

The Spanish TEAM-member Another Democracy is Possible have launched a legal challenge against the government. The group questions that public money is being spend on promoting the EU Constitution. “Contents of the governmental website are flagrantly biased for the ratification of the constitutional treaty”, argues the group.

Read more on Another Democracy is Possible’s website