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chemgear · 11-17-2011, 12:42 PM

I'm guessing this will be in the news over and over again for a long time to come:

http://business.financialpost.com/20...spains-shores/

The Spanish government was forced to pay the highest borrowing costs since 1997 at a sale of 10-year bonds, with yields a steep 1.5 points above the average paid at similar tenders this year, drawing descriptions from the market ranging from “pretty awful” to “dreadful.”

The euro fell in response. Paris fared a little better, but again had to pay markedly more to shift nearly 7 billion euros of government paper. Fears that the eurozone’s second largest economy is getting sucked into the debt maelstrom have taken the two-year crisis to a new level this week.

“The eurozone has got to deliver something which is going to calm markets down and at the moment markets feel like they are being given no comfort whatsoever,” said Marc Ostwald, strategist at Monument Securities.

11-17-2011, 12:42 PM	#71
chemgear Franchise Player Join Date: Feb 2010 Exp:	I'm guessing this will be in the news over and over again for a long time to come: http://business.financialpost.com/20...spains-shores/ The Spanish government was forced to pay the highest borrowing costs since 1997 at a sale of 10-year bonds, with yields a steep 1.5 points above the average paid at similar tenders this year, drawing descriptions from the market ranging from “pretty awful” to “dreadful.” The euro fell in response. Paris fared a little better, but again had to pay markedly more to shift nearly 7 billion euros of government paper. Fears that the eurozone’s second largest economy is getting sucked into the debt maelstrom have taken the two-year crisis to a new level this week. “The eurozone has got to deliver something which is going to calm markets down and at the moment markets feel like they are being given no comfort whatsoever,” said Marc Ostwald, strategist at Monument Securities.