Demand for bonds has increased while costs declined at sale in Spain, implying that Spanish investors are not concerned about the possible spread of Cypriot turmoil to other euro zone countries.

The Spanish Treasury was able to sell 4.5 billion euros at the sale of three maturities which included 10-year benchmark.

Due in January 2013, 2.3 billion euros of the benchmark bond were sold by Spain, with yields declined from 4.917% to 4.898%.

Cyprus has the possibility to be bankrupt following the unanimous vote from the parliament against bank deposits levy.

Meanwhile. European Bank made a promise to take any possible steps in protecting the monetary union.