Quote:
Originally Posted by Osem
The cost of borrowing for Spain has jumped above 6%, raising again the prospect of a bailout.
The yield on Spain's 10-year bonds reached 6.1%, ahead of auctions of debt on Tuesday and Thursday that could be increasingly expensive for Spain.
Investors have been worried by data showing Spain's banks are entirely dependent on emergency ECB loans....
....The yield suggests that if Spain wanted to borrow for 10 years today, it would pay more than 6%.
In comparison, the yield on 10-year bonds from Germany, the eurozone's strongest economy, is 1.73%.
http://www.bbc.co.uk/news/business-17725771
How long can this go on I wonder. |
Just shows, Osem, that the EU has not solved the Euro problem; they have merely delayed it.No doubt, we will revisit the Euro crisis situation again in the not so distant future.
Governments really need to get their costs down and that won't happen as long as the leaders hang onto their large salaries while everybody else suffers.
The EU is far too expensive to run and the money could be better spent developing the national infrastructures and getting people back to work.
Unfortunately, our leaders don't know how to do that, but they still want a big salary for failing.