Ireland is still the debt crisis of the global market fermentation. Over the past few days, the Irish continued to record high yields, such that the country may be forced to seek external assistance is expected to continue to heat up. Although the Irish Government officials repeatedly denied that said that so far the country does not seek assistance from any institution, the current situation is entirely is help. But this interpretation is clearly not convinced pale investors on Monday the European market, the euro continued last week s decline, the dollar stand on the six week high. After European stock markets have opened lower.
A face behind a set?
These two days, the Irish may even have to seek emergency assistance of speculation the European Union one after another. EU source said that Ireland may be discussed with the European Union rescue operations. Over the past two weeks, the Irish borrowing costs soaring, it is doubtful that the country may be difficult without external assistance in the case survive the storm. Last week, the Irish 10 year bond yield was approaching 9 , the highest since the birth of the euro since 1999, the highest level. The German government bonds with the same period to reach the yield premium of 652 basis points, a record high in history.
In the EU, said Germany and other major countries also hope to receive assistance of Ireland to avoid is followed by the Greek style crisis. A German government official said last week, Germany is pressuring Ireland and require the latter to begin Tuesday before the meeting of the EU formally proposed financial help, to reassure markets play a role, so that private investors continue to buy the euro area in the future with confidence issued bonds.
However, given the distress a few months ago, after the Greek market Fanzao severely punish the tragedy of life and death of the Irish government refused to admit the country was in financial difficulties. A spokesman for the Ministry of Finance of Ireland on Sunday issued a statement via e mail, saying the country is working with international colleagues on the current market conditions, the official level of continuous contact. However, the spokesman strongly denied that Ireland has sought foreign aid. Ireland has not yet made any formal requests for outside assistance, the statement said, Ireland s financial situation will not matter until 2011.
Many Irish government officials are out to clarify the past two days,Minister of Enterprise Ireland, said Ireland will also have the ability of even behind will have difficulties with their own, which is determined to get rid of the current financial difficulties, adding that Ireland will not easily give up the hard won sovereignty. Irish Minister for Justice and Law Reform Dermot Ahern also said that negotiations on the country s ongoing assistance to the report was not true. He said the Dublin area will not apply for assistance.
But that may not be so far from optimistic. It is said that EU officials on Sunday night to the Irish situation in informal consultations in order to start trading on Monday before the market decide whether Ireland, a program of external assistance.
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