Storm looming in eurozone as Spain economy falters [1]
PressTV.ir
Wed Jul 25, 2012
5:48PM GMT
File photo shows a euro coin with the Spanish national flag in the background.
Spain’s worsening economic crisis and fears that the cash-strapped country might need a bailout that the eurozone can barely afford have caused a violent economic storm in European financial markets.
Fears soared high after the interest rate on Spain’s debt bonds climbed to a record high of 7.39 on Monday causing the euro to take a nosedive versus the US dollar and China’s Yuan, a recent report by Radio France Internationale (RFI) said.
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