Is Spain next in line for a Greek style bail-out? Spanish Finance Minister Luis de Guindos does't think so, at least not for the moment.
Spain is at the center of a financial storm as markets pushed the cost of its bonds to soar above 6%. In a bid to calm the markets and keep Brussels happy, the Spanish government on Tuesday announced a 10 billion euro slash in its public spending. The European commission welcomed the move, which comes on top of 78 billion euros in cuts presented in March.