Debt cap strengthens Spain

That Spain is moving fast to put a debt cap in its constitution will do the country good and calm the markets, writes the business paper Expansión: "This is one of the best pieces of news the ailing Spanish economy has heard for some time. In addition to the legal and financial security this measure brings, the psychological impact on the markets will boost the efficiency of the measure because there is still a great deal of uncertainty regarding the trading of Western government bonds. As other analysts have already observed, the problems with the issue of Spanish government bonds lie not with the rating agencies but the confidence and credibility we inspire in the investors and the markets as a whole. A situation like the current one in which every issue of bonds is like a final examination can't go on for much longer."

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