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Author Topic: Spain on the Brink of Seven Percent Bonds and Bailout Requirement  (Read 1131 times)

Offline Conley

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Spain's borrowing costs have risen at its latest bond auction, as Spaniards prepare to vote for a new government to tackle its financial crisis.

On money borrowed today, payable in 10 years, Spain has to pay an interest rate of 6.975%, the highest since 1997.

A high rate or yield indicates investors may not have confidence in a government to fully repay its debts.

The figure is perilously close to 7% - the level at which other eurozone countries have had to seek bailouts.

The average yield on 10-year Spanish government bonds soared from 5.433% in October.

Italian 10-year bond yields passed 7% earlier this month.

Opinion polls indicate that the opposition Popular Party will win Spain's general election on Sunday, ending seven years of Socialist government.

http://www.bbc.co.uk/news/business-15771776

They couldn't even sell all of their bonds...even Italy accomplished that. They're getting rid of the socialists, but too late. Another change in government leadership just like Greece and Italy, all in the span of a couple of weeks.
Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. -Eisenhower

Offline MMC

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Re: Spain on the Brink of Seven Percent Bonds and Bailout Requirement
« Reply #1 on: November 17, 2011, 10:04:47 AM »
Their economists all say its about that Austerity package. Spend borrow spend. hey they are part of the Global Economy?
"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

 


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