Spain's borrowing costs rose on Friday after European Central Bank chief Mario Draghi failed to announce immediate plans for dealing with the euro debt crisis.
The yield for Spanish 10-year bonds stood at 7.4 per cent, well above the critical 7-per-cent level. The spread measuring the difference between Spanish and German 10-year bonds rose to 616 basis points.
Spanish analysts saw Draghi as pushing Spain towards a second partial financial rescue, after the eurozone pledged up to 100 billion euros (120 billion dollars) in aid to the country's ailing banks.
Draghi said the central bank would buy debt of weaker eurozone members only after they asked for help from the eurozone bailout funds.
That would subject Spain to new economic conditions dictated by its partners, reducing its margin of manoeuvre to almost zero, the daily El Pais wrote.
Prime Minister Mariano Rajoy on Thursday declined to say whether Madrid was planning to seek aid from the euro rescue funds.
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