ECB lent €132bn to Irish banks
That represents a modest decrease from the €136.4bn they received up to the end of November.
However, the figures are well ahead of the €92bn outstanding to the ECB at end December 2009.
That build up in borrowing from Europe reflected the reluctance of lenders to purchase Irish bank bonds as fears grew over the ability of the Irish banks to honour their repayments.
In the last quarter of 2010 the banks and the Irish Government were locked out of the bond markets as the cost of borrowing rose sharply shutting the Irish banks out of the markets.
Last week NTMA boss John Corrigan said that it was possible Ireland could return to the markets before the year end but it was more probable this would happen in 2012.
Mr Corrigan stressed however, at the launch of the agency’s annual report for last year that interest rates on bonds would have to fall to the average 5.75% being charged on the €85bn bailout Ireland was forced to reluctantly accept before Christmas.
Hopes of Ireland being able to get the punitive borrowing rate lowered at a meeting in Brussels of eurozone finance leaders on Monday have been played down.
Brussels sources said it is unlikely that the interest rates being paid by Ireland can be lowered.
