Greece 'out of euro' if bail-out fails As European bond markets strained ahead of a vital round of debt auctions, Pantelis Kapsis, a government spokesman, said: "The bail-out agreement needs to be signed otherwise we will be out of the markets, out of the euro. The situation will be much worse. However, elsewhere there was evidence that fears over the debt crisis had resumed in earnest. In Spain, jobless figures rose again in December taking the unemployment rate of 2011 to 7.9pc, or 4.42m people. Almost a third of all jobless people in the eurozone are Spaniards. Figures showed that banks had flocked to the European Central Bank (ECB) for emergency lending on Monday night, drawing a total of €14.8bn from the "marginal lending facility." Although significantly lower than the record €17.3bn last week, the levels are worryingly high. French, Spanish and even German bond yields were also pushed up amid bond auction jitters. France is due to sell up to €8bn of four different bonds tomorrow. Standard & Poor's warned in December that France's AAA credit rating was at risk of a downgrade. Italy is to €15.6bn to auction this month, and a €53bn to auction in February, according to estimates by Forex. German Chancellor Angela Merkel and French President Nicolas Sarkozy are due to meet in Berlin on Monday to prepare for the next European Union leaders' summit at the end of the month. But the leaders appear no closer to agreeing radical rescue measures. Andreas Dombret, a Bundesbank board member, this week repeated that the ECB "cannot and may not serve as the 'lender of last resort' for state finances." He also indicated that Germany would not contribute to extra funds for the International Monetary Fund without UK participation.