Irish officials continued to refuse consideration of a package of salvation, but believe that Germany could begin moving in this direction for discussions with Dublin. Talks between officials of Ireland, the eurozone, the ECB and the EU have continued all weekend, and Telegraph said that EU officials called a rescue package "very likely". EU finance ministers will meet tomorrow in Brussels. The head of the Irish ruling party Fianna Fail is known for its deep-nationalist views, so it is clear that the signing of the rescue package will meet strong resistance. If bond yields remain at that level for some time, it would only increase the financial and economic instability have already felt by Ireland. Irish bonds, which at some point on Thursday exceeded 9.0% in yield, and on Friday it had fallen below 8.0%, with spreads to the Bund fell to the powerful 76 bp Portugal 10-yr yield fell by 30 aa at some point to 6.57%, spread to the Bund fell by 35 points. Interestingly, the yield of the Greek market has fallen by 15 bps up to 11.26%. Spanish and Italian bonds, which also suffered in recent weeks, were bought back, reducing the spread of the Bund at 15 bp at the long end. How to Ireland last week, Spain is likely too soon ask the EU to extend the bank guarantee for another six months. The euro also recovered a bit after the recent recession, thanks to all of the same Asian central banks.
Translate this page
