`` Spain's short-term cost of borrowing hit three-year highs. At an auction of Spanish government debt demand fell, while yields at a sale of six-month Italian paper hit their highest since late 2008... the price of German Bunds, the benchmark of the eurozone debt market, was back up to levels seen before the aid package. Traders said the markets were now unconvinced that the authorities have done enough to prevent a meltdown of the euro.''

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