Spanish Bonds - Eurozone Crisis

Telegraph Live - Euro: Reports in its 8.15am post that Spanish Bonds have risen to 6.9%.

Lets Get Real:

One can assume that either the cost for the Spanish Government to borrow on the Market will past 7% or the market will revise down the cost of Spanish Bonds. If Spain has to pay 7% on its bonds then it will have to go back to the EU/IMF/ECB and ask for a major bailout, for the debts of the Spanish Government and for the local governments in Spain. If this does happen then Italy will be next folks, as stated Italy is to big to fail, thus the UK might have to borrow money to Italy through the IMF and the EU. It is a pity that it is illegal to do political polls in Greece two weeks before an election, the entire world will be watching Athens on Sunday. The EU and the Markets are waiting to see how the Greeks vote, in our out of the Euro, an election with no clear winner would be a disaster folks.