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Spain 'shuffling towards the abyss'
The prospect of a multibillion-euro bailout for Spain increased today as the country's borrowing costs edged up on fears over its beleaguered banking sector. The yield on Spanish 10-year bonds rose to 6.6% - close to levels which pushed Greece, Portugal and Ireland into taking financial support from the EU. Spain's woes snowballed as a plan to shore up the finances of its troubled lender Bankia by indirectly tapping the continent's central bank for support was rejected. The escalating eurozone crisis spooked investors as London's FTSE 100 Index lost nearly 2% of its value, while Germany's Dax and France's Cac-40 ... (full story)
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