Spain borrowing cost makes record

Spain's borrowing costs have risen to the highest rate since the launch of the euro in 1999.



The benchmark 10-year bond yield hit 6.81 per cent, as optimism about the weekend's Spanish bank bailout continued to evaporate.



Italy's 10-year bond yield rose to 6.28 per cent, a rate not seen since January, as concerns about its finances rose.



The interest rates are seen as unsustainable in the long run for two countries weighed down by huge debts.



Markets continued to be uneasy about the situation in the eurozone.