The Eurozone was back on the brink last night as Spain edged towards a financial disaster that could tear the single currency apart.
Analysts said Spain's huge economy was at a 'tipping point' and would inevitably need international aid.
In a sign that Europe's debt crisis is deepening, Italy's borrowing costs edged higher, Greece was was facing a 1930s-style depression and its austerity measures were said to be faltering.
Additionally, ratings agencies threatened to strip Germany of its gold-plated credit rating because of the risk of the crisis spreading.
Source and full story: Daily Mail, 25 July 2012