Thread: Eurozone will collapse...
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Old 17-04-2012, 16:00   #602
Alan Fry
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Re: Eurozone will collapse...
Quote:
Originally Posted by Osem View Post
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.
This is very unsustainable, it is very likly that they would need to borrow money from the ECB/EU or even have a bailout, Europe needs to be prepaired for it, the same goes for Italy and Hungary
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