Zapatero Delays Vacation as Spanish Bond Yields Head for 7%
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Spanish Prime Minister Jose Luis Rodriguez Zapatero delayed a planned vacation as the country’s borrowing costs approached the 7 percent mark that heralded bailouts of Greece, Portugal and Ireland.
The prime minister is in “permanent” contact with Finance Minister Elena Salgado and has spoken with European Commission President Jose Manuel Barroso, according to his office. Zapatero’s economic advisers have discussed developments in financial markets with counterparts in Germany, France and Italy, according to one official, who asked not to be identified in line with government policy.