Ireland Cancels All Remaining 2010 Bond Auctions Due to Market “Turbulence”
October 4th, 2010Via: ZeroHedge:
Irish Prime Minister Brian Cowen said that his government decided to cancel bond auctions for the rest of the year because of “turbulence” in bond markets, and the state is already funded into next year. He made the comments in an interview with national broadcaster RTE.
“We are funded until next May,” Cowen said. “There has been such turbulence in the markets, since we don’t require those funds immediately why would we be going to get funds at rates such as 6.8 or 6.9 percent.”
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