Italy minister says market situation extremely difficult
ROME, June 12
ROME, June 12 (Reuters) - Recent financial market developments show the situation remains "extremely difficult" for the euro zone as a whole and for Italy in particular, Italian Deputy Economy Minister Vittorio Grilli said on Tuesday.
Italian borowing costs have risen sharply following the deal on Saturday in which euro zone finance ministers agreed to lend up to 100 billion euros to help recapitalise Spanish banks.
"I hope that the events of the last few days make everyone understand that the situation remains difficult, extremely difficult, for Europe and also for our country," Grilli said at a ceremony in Rome.
Italy's 10-year benchmark bond yields rose above 6.2 percent on Tuesday, the highest since January, while the yield spread compared with safer German Bunds was above 4.7 percentage points, compared with a recent low of 2.8 points in March.
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