Spain's borrowing costs tumbled Tuesday as it tapped the debt market for cash, but analysts warned the lull could be brief as Madrid faces a huge repayment crunch in October.
A giant logo of the Euro currency stands in front of the European Central Bank (ECB) in the banking district of Frankfurt in July 2012. Spain's short-term borrowing costs tumbled Tuesday as it raised 4.51 billion euros ($5.6 billion), buoyed by the possibility of European Central Bank invervention.
For now, Spain is enjoying a drop in interest rates sparked by European Central Bank chief Mario Draghi's promise to preserve the euro and possibly resume purchases of government bonds.
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