Spain back in the crosshairs of crisis - The Washington Post

Spain back in the crosshairs of crisis - The Washington Post

Spain back in the crosshairs of euro-zone crisis

View Photo Gallery — Europe’s debt crisis: Leaders continue negotiations, protesters take to the streets: As many European governments struggle under the weight of massive debt, government officials work to enact laws and agreements that they hope will save the euro. Meanwhile, citizens in Spain, Greece and elsewhere demonstrate against the austerity measures their governments have put in place to get the debt in check.

By Howard Schneider, Published: April 4

Spanish Prime Minister Mariano Rajoy warned Wednesday that his country was facing “extreme difficulty” as its cost of borrowing money on global markets jumped and doubts increased about whether the government can stick to the strict austerity program designed to bring its debt under control.
Facing recession and treacherously high unemployment, Spain is struggling to keep its debt from exceeding targets set by European officials. So far, Spain has been able to remain in the good graces of international investors, raise the money it needs to finance itself and avoid the need for an international bailout.