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Spain's first step must be to recapitalise banks: Rabobank

The biggest fear is that Spain's cost of debt is hovering around the dangerous 6% limit, says Lyn Graham Taylor of Rabobank.
'EFSF may struggle to raise long-term funds post downgrade'

Standard & Poor's cut its credit rating of the euro zone's EFSF rescue fund on Monday. Lyn Graham-Taylor, strategist-fixed income at Rabobank says, EFSF is going to struggle to raise longer dated paper.

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