Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Uncertainty in Greece pushes up cost of borrowing in Spain

Mon 27th Jun 2011

The Spanish Minister of Finance, Elena Salgado, has reiterated that the country will not require a financial bailout from the rest of the EU. However, she did admit that had concerns over the significant rise in the cost of borrowing that Spain is currently facing.

Recent polls suggest that the ruling PSOE administration will lose to the PP opposition in the general elections, planned for March 2012 at the latest, but is nonetheless attempting to persuade investors that it can restructure the economy and avoid the need for a bailout.

Spain's 10-year bond yield increased to 5.77% today - the highest in over ten years - as the cost of insuring against default on European sovereign debt rose to a record level.

The situation in Greece and their inability to gain support for their austerity measures is causing Spanish borrowing costs to rise, however there should be some clarity once the result of a vote by the Greek parliament on the issue is made known on Wednesday.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs