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German Chancellor Angela Merkel is seen on a screen, left, at an almost empty stock exchange in Madrid Thursday June 14, 2012. Spain's borrowing rates have hit a high not seen since the country joined the euro in 1999 after a credit ratings agency downgraded the country's ability to pay down its debt. The interest rate, or yield, on the country's benchmark 10 years bonds rose to a record 6.96 percent in early trading Thursday, close to the level which many analysts believe is unsustainable in the long term and at which countries such as Greece, Ireland and Portugal have sought an international bailout. (AP Photo/Paul White)