Italy’s Cost of Borrowing Reaches A Record HighOctober 28, 2011 5:27 pm
Italy paid the highest cost of borrowing since the creation of the Euro – Italy paid 6.06% to borrow for 10 years at an auction on Friday, the most since the euro was created in 1999. We spotted this today:
“The rate jumped from 5.86% – the previous record high – at its last auction a month ago.
The auction came as stock markets failed to follow up on their global rally on Thursday, with shares in many European banks turning lower.
An interest rate of 6% and higher is generally considered to be unsustainable. ”
Statistics Source: BBC