Business

摘要

While the European Union and imf hammered out the details of a bail-out for Ireland, officials in Portugal and Spain attempted to assure investors that their economies and banks did not need a similar rescue. Amid worries about sovereign debt, the cost of borrowing for both countries rose sharply: the spread on Spain's ten-year government bonds over that on German Bunds jumped to its highest since the introduction of the euro. Jose Socrates, Portugal's prime minister, expressed hope that the help given to Ireland would soothe the markets because his country was "clearly suffering from a contagion effect".