Ireland can avoid borrowing further at high rates this year, NTMA claim

IF the cost of borrowing continues to soar, Ireland can avoid having to borrow further this year at the high rates now being charged by international lenders.

That was confirmed by the National Treasury Management Agency yesterday, who also said Ireland’s funding position will not be undermined by the crisis engulfing the Greek economy.

The agency has up to €23 billion in cash reserves for the past two years that it can call on to cushion Ireland’s debt problem.