Spain's Prime Minister Mariano Rajoy gestures during a news conference at the Moncloa Palace in Madrid, Spain, May 25, 2018. REUTERS/Stringer
LONDON (Reuters) - Borrowing costs in southern Europe shot up on Friday and stock markets in Milan and Madrid fell as threatened no-confidence motions against Spain's prime minister exacerbated a sell-off provoked by growing political risk in Italy.
The opposition Socialists presented one no-confidence motion in Prime Minister Mariano Rajoy to the Spanish parliament while his former allies, Ciudadanos, issued him with an ultimatum: call an election or face their own, second such motion..
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