Euro Crisis: Spain Resists Bailout, Markets Down

European markets were today posting modest losses, as the rally sparked by news of renewed central bank stimulus measures ground to a halt meanwhile Spain’s resistance to request a full bail-out prompted worries about a spike in bond yields.

In droves, traders were today moving capital to safe haven assests, such as German bonds.

The Spanish ten-year bold yield is currently at about 6% – the worst it has been since the ECB announced its bond-buying plan –  a plan which will only be activated when strife-ridden nations such as stricken Spain, formally request a full bailout.

This could happen soon, particularly if bond yields continue to rise to dangerous levels.

In other European news, Germany’s ZEW index fell to 12.6 in September, lower than the expected 17.9. Despite this, the economic expectations index rose for the first time in five months.

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