Spanish banks struggle to get hold of credit

The euro crisis is making it difficult and expensive for Spanish banks to get hold of credit, deduces Fitch.

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Osborne criticises Spain bailout

George Osborne has said the failure of the Spanish bank bailout is "depressing" as the banks had to be directly recapitalised into to convince the markets of its credibility. Spain's borrowing costs have hit the highest level for 13 years.