The cost of insuring European bonds against default climbed to all-time record for Spain, France and Belgium as European leaders still split over the means to tackle the two-year old debt crisis in Europe.

The Spanish 5-year CDS widened 16 bp to 495 bp, while French 5-year CDS widened by 2 bp to 250 bp, in the time Belgian CDS expanded 1 bp to 395 bp.

Moreover, Italian 5-year CDS climbed 30 bp to 583 bp (around the highest level recorded at 587 bp on November 15), while German 5-year CDS inclined 4 bp to 113 bp (3 bp behind the highest recorded seen on October 4).

The Portuguese CDS reached 1,110 bp after surging 10 bp, especially after Fitch cut the Portugal's credit rating to junk. In addition, the Greek CDS widened 1 bp to 63 bp.