Spanish Government Will Also Need a Bailout: Pro

1:00 AM ET Thu, 19 July 2012

"The key event risk would be the Spanish auction, Spain had no problem pushing short end paper in the market but longer end it will have to pay up and that will put emphasis on the fact that the outlook for Spanish government debt looks unsustainable at the rate they are paying," Jan Lambregts, global head of financial markets research at Rabobank International, told CNBC.