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June 18th, 2012 
FAKE NEWS for the Zionist agenda On Monday, the rate of return investors demanded to hold 10-year Spanish bonds jumped to 7.061 percent, the highest level since the birth of the euro in 1999, which is widely viewed as unsustainable.
Greece’s pro-bailout New Democracy party has narrowly won the country’s parliamentary elections on Sunday, with enough seats to form a ruling coalition committed to austerity measures set out in the nation’s 130-billion-euro international bailout.
The victory by pro-bailout parties is widely seen as keeping that nation in the eurozone in the short term and helping to avoid a crisis of confidence in the currency area’s other fiscally troubled states.
However, European shares quickly pulled back on Monday after a brief rally on the receding prospects of a sudden Greek euro exit, as fears over Spanish and Italian debt problems widened.
Investors are worried about the risk of a full-blown Spanish bailout despite a eurozone agreement to loan Madrid up to 100 billion euros to save banks exposed to the collapsed property sector.
The cost of borrowing also rose for Italy, eurozone’s third largest economy. The yield on Italy’s 10-year bond went above the 6 percent on Monday.
Spanish Prime Minister Mariano Rajoy, in power since December, has implemented more than 30 billion euros of austerity cuts as well as tax increases to reduce the country’s deficit and to avoid seeking a financial bailout like Greece, Ireland and Portugal.
However, Spain’s public debt figure soared to a new record high of over 70 percent of the crisis-hit country’s gross domestic product (GDP) in the first quarter of 2012.
PG/JR
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