Markets recover on Irish bailout talks

| November 12, 2010 | 0 Comments
Markets recover on Irish bailout talks

Talks of an EU bailout for Ireland triggered a recovery in shares today, while yields on 10-year Irish bonds also fell back on emergency funding speculation.

Earlier today, UK and Europe stock markets followed losses in Asia and the US overnight after Irish borrowing costs surged to record highs.

However, claims that Ireland will have to turn to the EU rescue fund appeared to calm investors fears.

The EU rescue fund was established by European Governments and the International Monetary Fund after the Greek debt crisis earlier this year.

However, claims that Ireland will have to turn to the EU rescue fund have been denied this week by the country’s Government.

Proposals for the bailout package are expected to be finalised next week - with a meeting scheduled for Tuesday in Brussels.

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