No firewall for euro fears

As investors fret over the size of the boost to Europe's rescue fund, markets are also deeply worried Spain will be unable to meet its ambitious deficit reduction goals.

Global markets face a challenging week, after Brussels’ latest attempts to stave off the eurozone debt crisis – boosting the eurozone’s firewall to €800 billion ($US1.07 billion) on the same day as the new Spanish government Mariano Rajoy unveiled a massive cut in its budget deficit – failed to lift investor confidence.

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