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Wednesday, June 13, 2012

Spain borrowing costs hit euro-era record in bank crisis

Spanish borrowing costs have soared to a euro-era record high on a market beset by doubts over a vast rescue loan for the country's banks and by fears of a Greek exit from the eurozone.

The euro came under more pressure in early trading Wednesday, unconvinced by the deal struck by the 17 eurozone nations over the weekend to extend Spain a banking sector rescue loan of up 100 billion euros ($125 billion).