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Spain's Challenges Have Increased Faster Than Reforms: S&P

Friday, 27 Apr 2012 | 5:30 AM ET

Moritz Kraemer, managing director for European Sovereign Ratings at Standard & Poor's, told CNBC, "We have taken account Spain's reforms but it is our view that while the government has begun to tackle those issues more robustly than previously the challenges have increased even faster."