Simon Taylor, European VoiceThe Irish government is reported to be under increasing pressure to accept financial assistance from eurozone countries to help cope with pressure exerted by the financial markets.
According to several media reports, other EU governments, especially Germany, believe that Ireland should accept aid from eurozone countries to help bring down the yields demanded for buying government debt. Yields on Irish government bonds rose to a record high of 9% on Friday (12 November). The markets fear that Ireland will not be able to repay its debts and that its debt will need to be restructured, causing losses for holders of Irish bonds.
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