Interest rate on debt securities reached in Spain the highest level since the inception of the euro area. Maybe Madrid, as Athens will be forced to ask the EU aid package to avoid bankruptcy. Yield on 10-year Spanish government bonds on Monday reached a record high of 7.45 percent. This is the highest interest rates on sovereign debt in the history of the euro area. The growth of concern about the condition of Spain on Monday contributed to the Spanish central bank, which reported that in the second quarter of this year the economy shrank by 0.4% and that trend will continue.
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