Spain to Announce Deficit Cut Plan, Seeking to Avoid Greek Fate

http://www.bloomberg.com/apps/news?pid=20601085&sid=aygBLqv4u7dE

Spain’s debt burden, at just 36 percent of GDP before the crisis in 2007, will still be lower than Germany’s in 2011, according to the commission. Still, concern about the debt burden has led the yield difference with Germany to almost double in past month.

“With the discussion on the desolate state of Greece’s public finances, public awareness of these problems has at last risen,” Ralph Solveen, head of economic research at Commerzbank AG in Frankfurt, wrote in a note. “Along with Italy and Portugal, Spain is now regarded as another candidate for a serious crisis.”