The Spanish Prime Minister, Mariano Rajoy, attempts to provide more efforts to calm jitters and avoid following other indebted nations into the debt-trap, where the Premier met yesterday the health and education ministers, seeking further cuts worth around 10 billion euros, in attempts to reduce the deficit to 3% next year.

Rajoy keeps on providing more attempts to avoid seeking bailout such as Greece, Ireland and Portugal, where the Prime Minister is to adopt more cuts targeting the education and health care sectors in order to reduce the deficit to 3.0% of GDP.

The average yield on Spanish bonds return to incline again today, forcing more pressure on the indebted nation, where the tension returns once again to debt market, with fears rising borrowing costs might force Spain into seeking help from the European Union.