Eurozone hope

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The Independent Online

Hopes that the European Central Bank president, Mario Draghi, will step in to save the eurozone gave fresh relief for Italy and Spain.

Optimism about aid meant Italy could tap markets for €5.5bn (£4.3bn) in five-year bonds at 5.29 per cent, a slightly lower rate than before. Spain is being charged 6.49 per cent to fund itself for 10 years. Its costs hit 7.5 per cent last week.