Italy's Cost of Borrowing Reaches A Record High

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