“The prospect of more Spanish regional governments following Valencia in asking for aid sent the cost of insuring the nation’s debt to a record.
Credit-default swaps on Spain jumped as much as 31 basis points to 636, according to data compiled by Bloomberg, and were at 632 at 1:30 p.m. in London. A basis point on a swap protecting 10 million euros ($12.1 million) of debt from default for five years is equivalent to 1,000 euros a year.”
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