According to recent reports, it has been revealed that the short term borrowing costs in Spain are soon going to see a drop soon. Only yesterday, it saw the first evidences of it after it sold Treasury Bills of € 2.94 billion.

Amidst the debt crisis gripping the Eurozone since a long time now, there are all efforts being made by the government of Spain. It has been revealed that the borrowing costs of Spain remained below 10%.

There was the sale of €805 million in Spain in the three months that went by. The efforts for fundraising have been supported by the European and Central Bank. There are combined efforts being made by all members of the Eurozone in order to suffice the needs of their nations as well as to find a way out of the debt crisis.

It was revealed yesterday that the total amount that has been spent on the bond purchasing activities in Spain sum up to as much as €110.5 billion.

“The sense of this initiative is in line with others we have announced: it implies the commitment with the need of definitive consolidation of the Economic and Monetary Union, and it represents a step toward strengthening confidence in the medium-and long-term stability in the Spanish economy”, Prime Minister José Luis Rodriguez Zapatero said.