traders bet that Spain would follow Italy into "bail-out territory." French bank Societe Generale said: "Spain is now joining Italy on the radar screen". Warren Buffett, the US investor, said bond markets were displaying a "partial run on Europe." British borrowing costs fell to just 2.2pc.
Michel Barnier, the EU markets commissioner, said he wanted to ban credit rating agencies from rating bonds from bailed-out countries. He told French radio that the agencies could lose the "right to rate certain countries for a certain time that are receiving an international support programme from the IMF or European Union." But few could see how the ban could be imposed.
In Athens, a debate over Lucas Papademos' leadership starts in the Greek parliament today. The new premier has to win a confidence vote tomorrow and then prepare next year's draft budget to take to his first showdown with eurozone finance ministers in Brussels on Thursday.
Antonis Samaras, leader of the Greek opposition, warned that he would not support Mr Papademos' interim government for more than three months without elections. His objections are said to be barring the disbursement of the €8bn tranche of international aid to Greece.
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