Spain's Borrowing Costs Continue To Rise

by Lauren Frayer, NPR

For months, Spain's borrowing costs have been hovering near levels that sent Greece, Ireland and Portugal into bailouts. Spain will have to cough up nearly $40 billion to pay interest on its debts this year alone. That's many times what's been cut from things like health and education, which has Spaniards so upset. But the only alternative to raising money on markets is simply to stop spending it. Last week, Prime Minister Mariano Rajoy signaled he may simply give up, and try to rely on tax revenue alone.

Broadcast Dates

• All Things Considered, May 22, 2012