Dublin has welcomed a statement of reassurance by fellow EU members over Ireland's debt crisis. The move came as investors appeared to grow nervous over a future bailout scheme and comments by Chancellor Angela Markel.
EU members Britain, France, Germany, Italy and Spain published a joint statement on Friday declaring that bond market nerves over Ireland were misplaced.
The move, which was welcomed by the Irish government, came after the cost of borrowing for Dublin hit record highs on Thursday.
It was aimed at reassuring markets that current arrangements with Ireland would not be affected by future bailout proposals. These could, from 2013, make private investors share the costs of any national bailout.
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EU moves to calm markets over Irish debt fears