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Greece election result fails to quell euro concerns

18 June 2012 Last updated at 14:05 BST

After fearing the worst, financial markets rallied on the news that the pro-European New Democracy party won the Greek election re-run.

But the euphoria proved short-lived and doubts over other faltering European economies are causing yet more concern.

Yields on Spain's 10-year bonds again rose above seven per cent on Monday morning - the level at which other struggling members of the eurozone were forced to seek full-scale international bailouts.

The BBC's chief economics correspondent Hugh Pym reports.