PAIN FOR SPAIN: Financial pressure is mounting on Spain as its economy shrinks and the cost of bailing out banks and regional governments grows.
BORROWING COSTS: Investors pushed the country’s borrowing rates to a euro-era high of 7.45 percent Monday on fears that Spain will need a bailout. That is considered an unsustainable level.
Recommended Stories
NOT ENOUGH: Spain has already required an emergency loan package of up to $121 billion to bail out its banks. But investors are still anxious because the government is ultimately liable to repay the money if the banks do not.
