Cost of borrowing for Irish banks rises

The cost of borrowing by the State and Irish banks has risen sharply.

At one stage today, investor yields being sought on 10-year Irish bonds rose to above 6.1%.

Greek and Portugese bonds were also put under simillar pressure.

Fresh concerns about the cost of Anglo Irish Bank, coupled with media articles casting doubt on the accuracy of the results of recent "stress tests" by the ECB, are being blamed.

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