The stock markets ave tumbled down as well as the costs of borrowing of Spain have gone up again as the debt crisis of the country have all the more deepened, this all has raised concerns over the problem of the eurozone which is going on only wider.
The yield on the 10-year bonds of the government of the Spain have hit a new euro-era record of almost 7.5 per cent just a few days on the fears that this economy that is one of the biggest economies of the eurozone might need a full-blown sovereign bailout to get out of the trouble that it is facing.
The concerns of the investors were not allayed by Luis de Guindos, who is the Economy Minister of the country. He was of the view that Spain is not in the need a full sovereign rescue package such as the ones that had been taken by the other countries like Greece, Ireland as well as Portugal so that their economies can work in a proper condition in order to survive.
Norbert Aul, who works as a rate strategist at RBC Capital Markets had to say that given that the reaction of the market over the news that more and more regions are going into tap in to the liquidity fund, it is going to be extremely difficult for Spain to circumvent and gather further support for itself.
The FTSE 100 had gone down by 1.5 per cent to the figure of 5566 points at the open as well as was trading at 1.8 per cent while going down when the clock had struck 11.37am. The Ibex of Spain had tumbled down almost 4.5 per cent at one point of time, while MIB of Ital had dropped down by 4.4 per cent, along with this CAC-40 of France had fell down by 1.8 per cent as well as DAX of Germany had slid by 1.6 per cent . Apply now with text a loan @ http://www.textaloan.org.uk/ fill up own all short term cash problems.
In Asian part of the globe,the Hang Seng of Hong Kong had got down by 2.8 per cent, on the other hand Nikkei of TOkyo 225 shed down by 1.9 per cent, while ASX Sydney of Australia had slipped down by 1.7 per cent, but the South Korea's Kospi losing out by 1.8 per cent as well as Shanghai Composite of China had also slid down by 1.3 per cent. The condition everywhere is actually serious.