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European shares were called to open lower on Thursday as fears that Spain may not be able to rescue its own banks without the aid of an international bailout sparked fears of further crisis within the euro zone and brought the euro to a 2-year low versus the dollar.
The FTSE is called 16 points lower at 5275.5, the DAX is seen opening lower by 8 points at 6273, and the CAC 40 is expected to open lower by 2 points at 3011.
European markets are lower across the board on the month, with the FTSE down 7.68 percent so far, the DAX down 7.11 percent and the CAC down 6.12 percent.
Spanish government bond yields surged to a six-month high while German bond yields fell to record lows, pushing the spread between the two to a fresh record high.
The euro fell to as low as $1.2368 on Thursday in early Asian trade.
The common currency also fell to 97.74 yen, edging near an 11-year low of 97.04 yen, hit in January.
Oil dropped more than 3 percent on Wednesday to its lowest level in seven months as fears about the euro zone crisis sparked an erosion in risk appetite across markets.
Prices for U.S. benchmark light sweet crude headed toward their biggest monthly drop since the financial crisis of 2008, breaking below a key technical level as investors headed to perceived safe havens.
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