MADRID (AP) — Spain raised €4.8 billion ($6.2 billion) in a debt auction Thursday that saw strong demand and a substantial drop in its borrowing costs. But analysts and investors warned that Prime Minister Mariano Rajoy should not take the successful sale as a sign that the pressure to seek a rescue package was over. "It*s purely a cosmetic image....nothing has changed," said Ramon Zarate of Madrid's Emasl financial consulting group. After the European Central Bank pledged two weeks ago to buy unlimited amounts of government bonds to help countries that are being strangled by their debts, Spanish borrowing costs have fallen sharply. Investors have grown more confident that, thanks to the...
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