Elections in Greece did not calm down the Spanish stock market in Madrid, as the risk premium and interest rate of 10-year-bond set new historical records on Monday.

Monday's session began with the Spanish risk premium falling to 529 points, after it opened with optimism amid positive results of the elections in Greece.

However, this optimism did not last too long as at 10:15 (0815 GTM) the risk premium reached 566 points before setting a new record of 589 points.

The interest rate of the 10-year-bond fell below 6.9 percent in early trading, but it passed again 7 percent of interest rate breaking records again at 7.28 percent

The IBEX-35 stock market in Madrid ended at 6,519.9 points, a loss of 2.96 percent while at the start of the session it was rising at 2.04 percent and had 6,855 points.

The Spanish Minister of Finance, Cristobal Montoro, recognized Monday that the situation in the country is critical and urged the European Central Bank (ECB) to act firmly on this point in order to combat the existing fluctuations within the market.