'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Spain's borrowing costs broke through another record Thursday after a credit ratings agency downgraded the country's ability to pay down its debt amid rising fears a bank bailout may not be enough to save the country from economic chaos.
Euphoria over a lifeline of up to €100 billion ($125 billion) to rescue Spain's hurting banks morphed into a financial markets rout in a matter of hours Monday, as investors digested the still-undefined plan and became concerned the country may be unable to repay the new loans.
