FXstreet.com (Barcelona) - Despite the fact that the ECB cut its refinancing rate to 0.75% and the deposit rate to zero on Thursday, Spanish borrowing costs are soaring once again.
On Friday Spanish 10-year government bond yields briefly exceeded the psychologically 7% level, which is widely regarded by experts as unsustainable. This suggests that markets are not convinced that the decisions made during last week's EU summit will stabilize the situation in the area.
On Monday the Eurogroup will meet again this time to discuss the progress in Greek reforms and the Spanish bailout program.
On Friday Spanish 10-year government bond yields briefly exceeded the psychologically 7% level, which is widely regarded by experts as unsustainable. This suggests that markets are not convinced that the decisions made during last week's EU summit will stabilize the situation in the area.
On Monday the Eurogroup will meet again this time to discuss the progress in Greek reforms and the Spanish bailout program.
