The Spanish unemployment rate has hit a record high of 25 percent, as the country continues to struggle through a long recession. Spain is under pressure to ask for more help with its debts after receiving a 100-billion-dollar bailout for its troubled banks this year. The country's jobless rate is one of the highest in Europe, second only to Greece.

 

Cyprus' financial troubles have been discussed at a meeting in Paris. Cypriot President Demetris Christofias met French President Francois Hollande to work out ways Cyprus can overcome its financial difficulties. Cyprus has been a member of the Eurozone since 2008. It's been particularly hard-hit by the Euro crisis and it's currently waiting for a bailout from the EU.

 

Now time for the markets.

 

And when the markets in Europe closed a couple of hours ago, London's FTSE 100 was up slightly, as were the Dax and Euro. In the US, trading comes to close shortly and the Dow Jones is up, while the S&P 500 is down.

 

And the Australian dollar is worth one dollar three US this morning. It'll also buy you 64 British pence and one dollar 26 New Zealand.