Merkel demands faster Greek rescue, Spain downgraded

BERLIN (Reuters) - German Chancellor Angela Merkel said on Wednesday that Greece's international bailout must be accelerated for the sake of the entire euro zone, as the far bigger Spanish economy suffered a credit rating downgrade.

U.S. President Barack Obama joined expressions of concern about how a debt crisis which began in Greece might affect economies across Europe and beyond, tempering optimism that the financial rescue for Athens might be much bigger than expected.