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7/9/12

EMU: Spanish yields rise ahead of finmins meeting

Spanish and Italian bond yields rose on Monday and financial market investors saw little chance of respite in the euro zone's debt crisis from a meeting of finance ministers later in the day.

Spanish ten-year yields rose another 10 basis points to sit above the critical seven percent level seen as unsustainable in the longer-term. The euro fell to a two-year low against the dollar, reflecting doubts over how measures agreed last month to stem the crisis will be implemented.

Finance ministers - who only start meeting as European markets are closing - face a raft of questions over how they will aid indebted states and banks and construct a new banking oversight regime, but the latest talks may only highlight the initial deal's limitations.

Read more: EURO GOVT-Spanish yields rise ahead of finmins meeting | Reuters

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