Spain borrowing costs dip but crunch looms
- Published: 21 Aug 2012 at 17.48
- Online news: World
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.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
