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Spain borrowing costs hit euro-era record high
BBC – Spain’s borrowing costs have risen to the highest rate since the launch of the euro in 1999. The benchmark 10-year bond yield hit 6.81%, as optimism about the weekend’s Spanish bank bailout continued to evaporate. Italy’s 10-year bond yield rose to 6.28%, a rate not seen since January, as concerns about its finances rose. The interest rates are seen as unsustainable in the long run for two countries weighed down by huge debts. Read Article
Tags: banks, debt wealth, Europe, financial system
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