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"Speculators withdraw (for a day)," headlinesPúblico after a day in which European coordination helped ease market pressure. "For the first time since the start of sovereign debt crises in Europe, all countries came out in support for neighbours in distress," the Spanish daily notes. Portugal's bond auction on January 12 was a success, with Lisbon paying a 6.7 percent yield on 10 year bonds — below the critical 7 percent mark which, it is feared, will trigger an EU/IMF bailout. Meanwhile, Spanish stock saw its highest jump in eight months. “The buy trend on the markets accelerated as news came out of political messages of support for countries in distress." EU finance ministers, meanwhile, are discussing the possibility of reducing the interest rate paid by Ireland on its bailout, says theIrish Times, but not all countries are presumed to be in favour of cutting the rate that so outraged Irish opposition politicians.
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