Spain's borrowing costs soar
By The Week Staff | June 19, 2012
S
pain is having to pay far more to raise short-term money than it did a month ago. On Tuesday, it sold 2.4 billion euros ($3 billion) of 12-month bills at an interest rate of 5.074 percent. Just a month ago, it was getting 2.985 percent. With a pro-bailout party having emerged victorious in Greece's parliamentary election over the weekend, Spain's financial woes are taking the spotlight in Europe's debt crisis.
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