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Bond trouble

IRELAND could face serious funding pressures on the international markets if the continuing financial fallout in Greece causes traders to desert Irish Government bonds for safer alternatives.

The government's 10-year bond yields headed towards the tipping point of 6pc as the markets sought to avoid potentially risky investments.

Analysts have pointed out that there is no immediate need for Ireland to raise money, having prefunded more than 50pc of its requirement for 2010 and because it also has cash balances of about €20bn to fall back upon.