"Spain can not continue to fund at 7%. Thus, we need an agreement from the European institutions through a common operational strategy in the euro area, to save us and guarantee state debt," said Madrid Cospedal cited by Bloomberg.

President of the party, Mariano Rajoy, Spain's Prime Minister designate, said Monday that German Chancellor Angela Merkel "those countries meet their obligations and responsibilities to be helped by European institutions," said Cospedal. Rajoy will be invested in the latter part of December.
Interest maturity Spanish bonds rose to ten years to 6553% months after the Popular Party, who promised in the campaign to reduce public spending and economic reforms, won the largest majority controlled by a party in Spain in the last three decades.

Rajoy has warned that people should prepare for hard times, noting that promised "miracles".

An official source said that close to winning party in Spain wants new power mechanisms to support countries with problems in the euro area to be developed to full capacity in order to buy bonds instead of Spanish European Central Bank, which began in August to take to reduce interest titles.

Spain scheduled for Tuesday auction of government securities with a maturity of three to six months, which wants to attract 3 billion. Spain's last bond issue took place last week, when the state placed on the market maturity securities in 2022 at a rate of nearly 7%, the highest since the introduction of euro in 1999.

People's Party won the largest parliamentary majority since 1982, recording the Socialist rivals Loss from Spain return to democracy in 1978.

The new government inherited an economy in stagnation and a prolonged unemployment rate of 23%, a bank that credited the hard economy and a budget deficit of more than two times higher than the 3% of GDP regulated at EU level.

Spaniards voted for austerity and the state "has a duty to strengthen the euro," Rajoy said in a meeting with party leaders, according to a statement released after the talks.

The new government will take powers most likely on December 24.

European Commission noted that not aware of any request for support from Spain or Madrid intention to seek outside help.