News Summary: Spain calls for European integration

AP News
Posted: Jun 13, 2012 3:38 PM
News Summary: Spain calls for European integration

THE NEWS: Spain's Prime Minister called for greater European fiscal and banking integration to save his country and the wider 17-country eurozone as Madrid's key borrowing rate closed at a euro-era high.

THE DETAILS: Mariano Rajoy told Spain's lawmakers he is calling for new measures that might help weaker states like Spain. Those could include sharing debt burdens across countries or guaranteeing bank deposits across the eurozone.

THE NUMBERS: Market pressure on Spain continued to grow, with the 10-year-bond yield _ an indication of investor confidence in a state's ability to pay off its debt _ ending the day at 6.71 percent, the highest closing price since the country adopted the euro currency.