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Syndicated loans of speculative-grade borrowers down 1.22% in May.
Significant changes needed in tax and spending policies, agency says.
If Germany doesn't agree to eurozone bonds, there are other possible compromises.
Montoro says European institutions should help shore up Spains banks.
Closer cooperation possible to deal with banking troubles, finance minister says.
For third year in a row, the economy is expected to swoon, but avoid recession.
Spain joins calls for increased efforts to aid European banks.