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Business Bites: Spain's borrowing costs rise to euro-era record
Spain's borrowing costs have reached their highest level since it joined the euro in 1999.
Lenders are now demanding an interest rate of 7% for 10 year bonds.
That is the level at which other struggling members of the eurozone, including Greece and Ireland, were forced to seek full-scale international bailouts.
It follows a downgrading by the ratings agency Moody's of Spain's ability to pay its debt to just one notch above junk status.
The BBC's Aaron Heslehurst discusses the key financial story of the day.
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