PM WAITING: Spain’s Prime Minister Mariano Rajoy has yet to decide on whether to request more financial aid for his country, repeating instead that he’ll wait until the European Central Bank outlines its bond-buying plans before making a move.
RECORD BORROWING: Earlier Tuesday, Spain’s central bank said the country’s banks borrowed a record €375.5 billion ($463 billion) from the European Central Bank during July, up 11 percent from June and more than seven times the year-earlier total.
SOARING COSTS: Spain, in a double-dip recession with nearly 25 percent unemployment, has seen its borrowing costs soar to levels deemed unsustainable in the long run.
