Volatile day in European markets

European markets recovered slightly at the end of a week of turmoil and uncertainty in relation to the euro.

Shares in London, Paris and Frankfurt fell at the beginning of the day on Friday, but mostly experienced subsequent promotions.

Declines occurred once the Agency Moody's lowering the rating to 16 Spanish banks.

The rally in Madrid was helped by the recovery of the value of the shares of Bankia, the fourth largest bank in the country.

The German Government said that Spain does not need an international rescue for their banks. A spokesman for the Ministry of finance German hoped that Spain can overcome the crisis alone.

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