Spanish, Italian bond rates at record gap over Germany

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The Spanish and Italian government 10-year borrowing rates rose on Tuesday to a record wide gap above the rate eurozone benchmark Germany must pay, marking another upward notch in the eurozone debt crisis.

The gap between the Spanish and German borrowing rates widened to 3.0 percentage points, and the Italian gap to 2.09 percentage points. Financial analysts warn that Spain is at high risk of eventually needing help to finance its debt, although the Spanish government strongly denies this.

© 2010 AFP

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