Economy - Voice of America: Financial Challenges Mount for Spain

Economy - Voice of America economy-and-business

Financial Challenges Mount for Spain Jul 24th 2012, 15:02 Spain is facing new financial pressures, with its borrowing costs edging higher and its stock market falling amid fears it will need an international bailout. Madrid's borrowing costs Tuesday moved well above the 7 percent interest rate level that forced Greece, Ireland and Portugal to secure international bailouts in the last two years. Investors sold Spanish stocks, with the market plunging more than 3 percent to a level last seen in 2003. Spanish Finance Minister Luis de Guindos ... Media files: BE413F07-2D40-46C7-9FD1-89E4C6F99DD8_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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