Italy and Cyprus were in the firing line last night as the £80billion bailout of the Spanish banking system failed to stem the crisis in the eurozone.
Spain became the fourth country in the single currency bloc to request international aid in a desperate bid to prop up its troubled lenders, Thisismoney.co.uk reported.
But early euphoria on the financial markets evaporated as investors fretted about the details of a Spanish rescue and which country would be next to need support.
The FTSE 100 index surrendered a 100-point rally to close down 2.71 points at 5432.37 and the euro went into reverse on a rollercoaster session for investors.
Kathleen Brooks, an analyst at Forex.com, said: "Throughout this crisis Europe's periphery has been personified as a pack of dominos – if one falls then others will follow. So now the attention turns to the next domino."
Tuesday, June 12, 2012
Cyprus next for bailout amid deepening eurozone crisis
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