Victory claims fade as Spanish mood darkens

Article considers whether Spain – like Greece, Ireland and Portugal before it – would need a eurozone rescue programme run by the EU and the International Monetary Fund during the summer of 2012. Mariano Rajoy, Spanish prime minister, had boasted on the 10 June 2012 that an EU agreement to provide up to €100bn in aid for Spain's banks was a triumph that had averted a full-scale bailout of Spain.

ESO: Background information: Spain seeks eurozone bailout / Rajoy defends ‘victory’ for EU credibility / Doubt clouds robust Spain bailout http://www.europeansources.info/record/spain-seeks-eurozone-bailout-rajoy-defends-victory-for-eu-credibility-doubt-clouds-robust-spain-bailout/

EL Pais, 14.6.12: Yield on benchmark 10-year bond hits critical seven-percent mark http://elpais.com/elpais/2012/06/14/inenglish/1339674691_470788.html

EL Pais, 13.6.12: Rajoy sets down plea for greater European integration in a letter to Van Rompuy http://elpais.com/elpais/2012/06/13/inenglish/1339605922_310084.html

BBC News, 14.6.12: Spain's borrowing costs at fresh high after Moody's cut http://www.bbc.co.uk/news/business-18438044

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