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Wed Apr 11, 2012, 02:24 PM

Spain and Italy clash over blame for latest phase in eurozone crisis

Source: The Guardian

Fresh evidence of the strains in the eurozone emerged on Wednesday after Spain reacted angrily at being blamed by Italy for the latest flare-up in the single currency's debt crisis.

Despite attempts by the European Central Bank to ease the selling pressure in Europe's financial markets, a war of words threatened to erupt between Rome and Madrid over alleged comments by the Italian prime minister, Mario Monti, blaming Spain for the sell-off of the past week.

The price of both Spanish and Italian bonds rose after the ECB said it might intervene in financial markets, but Spain's prime minister, Mariano Rajoy, said leaders of other countries needed to be careful about what they said about his country.

"I wish to say the following with regard to some statements which have been made in the EU, and more explicitly last night by some EU leaders," Rajoy told parliamentarians from his governing People's Party, falling short of mentioning Monti by name.

Read more: http://www.guardian.co.uk/business/2012/apr/11/spain-italy-clash-eurozone-crisis

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