Spain bond yields up again, minister makes warning

MADRID (AP) ? Yields on Spanish bonds are going up again and the country's economy minister says the future of the euro depends on Spain and Italy and will be determined over the next few weeks.

The interest rate on 10-year Spanish bonds stood at 6.53 percent shortly after the start of trading, up 8 basis points from Thursday's close. The spread with the German bund was above 530 points.

Economy Minister Luis de Guindos said in a speech Thursday evening that he did not know if Spain was "on the edge of a cliff" but in any case Spain is in a very difficult position.

He said Europe needs new mechanisms including one to allow bailout capital to be injected directly into troubled banks rather than go through governments first.

Associated Press

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