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| Version 0 | Version 1 |
|---|---|
| Irish Republic set for bond sale | Irish Republic set for bond sale |
| (about 2 hours later) | |
| The Irish Republic faces a crucial bond auction which will give an indication of investor confidence in the country's economy. | |
| The government is seeking to raise 1.5bn euros ($1.96bn; £1.26bn) through the sale of four and eight-year bonds. | The government is seeking to raise 1.5bn euros ($1.96bn; £1.26bn) through the sale of four and eight-year bonds. |
| There have been reports that the country may have difficulty raising funds and need a bail-out from the International Monetary Fund (IMF). | There have been reports that the country may have difficulty raising funds and need a bail-out from the International Monetary Fund (IMF). |
| But the Irish central bank and finance ministry have played down these fears. | But the Irish central bank and finance ministry have played down these fears. |
| On Monday, central bank governor Patrick Honohan hit out at the "alarmist commentary" regarding the country's economy. | On Monday, central bank governor Patrick Honohan hit out at the "alarmist commentary" regarding the country's economy. |
| He said the government had already taken "prompt and painful" steps to deal with its deficit. | He said the government had already taken "prompt and painful" steps to deal with its deficit. |
| "It has kept to the targets it set for net budgetary savings in 2009 and 2010. If the economy stays close to the track originally envisaged, the deficit would come close to 3% (of total economic output) by 2014," he said. | "It has kept to the targets it set for net budgetary savings in 2009 and 2010. If the economy stays close to the track originally envisaged, the deficit would come close to 3% (of total economic output) by 2014," he said. |
| The country's borrowing costs have risen on fears that the cost of bailing out its banks and weak economic growth will push the economy into a debt crisis. | The country's borrowing costs have risen on fears that the cost of bailing out its banks and weak economic growth will push the economy into a debt crisis. |