Spain: Protesters jeer ex-IMF boss as bank card trial starts + MORE Sep 26th

LONDON – Turkey’s stock markets and currency have fallen sharply after the country’s credit rating was downgraded into junk status by Moody’s.
The Istanbul 100 stock index is down 3.9 per cent at 76,610 points Monday while the Turkish lira has also taken a hit. The dollar is up 0.7 per cent at 2.9874 lira.
The selling is largely due to Moody’s statement after the market close on Friday that it was cutting its rating on Turkish debt to Ba1 from Baa3. That pushes Turkey’s rating below investment grade, meaning it will likely cost the government more to borrow on capital markets.
Moody’s voiced a number of concerns, including the country’s “sizeable external funding requirements” and the growth outlook.
Turkey’s economy has recently faced a series of shocks, including an attempted coup in July.
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MADRID – Protesters shouted insults at Rodrigo Rato, the former head of the International Monetary Fund, as he and 64 others entered court for a trial over the alleged misuse of corporate credit cards at a Spanish bank.
Prosecutors are seeking a 4 1/2 year jail term for Rato, 67, who headed Bankia group between 2010 and 2012.
The court says investigations indicate there was fraudulent administration and misappropriation of bank funds by the accused in the use of the “opaque” credit cards for irregular and undeclared expenses between 2003 and 2012.
The trial started Monday but questioning of the accused will begin Friday.
Rato was IMF chief from 2004 to 2007 and a leading figure in Spain’s acting ruling Popular Party from 1996 to 2004.
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When you’re trying to get out of debt, the last thing you want is a financial setback. Unfortunately, life can throw us a curveball every so often, and this comes with unforeseen expenses. Your car could break down and require expensive repairs, you might throw out your back and need several sessions with a chiropractor, or you could chip a tooth and undergo costly dental work that your insurance doesn’t cover.
These types of emergency expenses are things that you can’t plan for in advance. For that reason, they often cause people to go into debt since they don’t have the cash put aside to pay for these costs and must turn to their credit card.
If you’re trying to get out of debt by the end of 2016, the last thing you need are unexpected expenses derailing your plans. Not only will that add to the challenge of repaying your debt, but it can push you to go further into the red if you can’t adjust your budget to absorb the costs.
So, what can you do to deal with an emergency expense and stay on track with your goal of becoming debt-free by the end of this year? Here are a few suggestions:
Find Ways to Cope with the Cost
If you experience an emergency while you’re in the process of paying off debt, if possible try to delay the expense until you can afford to pay for it with cash…