Sighs of relief from Brussels

THERE were sighs of relief in Brussels at the news that Ireland succeeded in selling €1.5 billion of bonds as it reduced the likelihood the country would call on the EU-IMF rescue fund and stressing the euro.

Even though the country was forced to pay a record high interest rate, many considered that overall given the circumstances, the outcome was positive.

European Commission President Jose Manuel Barroso said the EU was following the situation in Ireland closely.