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Spain’s Borrowing Costs Soar Through The Roof

June 14th, 2012

Only days after the bungling Eurozone politicians provided another one of their countless, debt-financed bailouts, with another promise that the Eurozone debt crisis was “permanently” solved and ring-fenced,  borrowing costs for Spain’s government have soared above the dangerous and unsustainable 7 percent level. In addition, Italy’s borrowing costs have increased to above 5 percent.

The bond vigilantes clearly have no confidence in the Eurozone political establishment. And with the next Greek election only days away, the shocks to the Eurozone system are far from over.  The Eurozone debt crisis, far from being contained, seems to be impregnable even to a shower of bailouts being thrown at it by helpless politicians.

                 

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