The amount of bonds eligible for the ECB to buy under its quantitative-easing programme is poised to shrink as the purchases risk pushing more yields below zero, according to Societe Generale.

The selection of Frenchman Cyril Roux as financial regulator and deputy Central Bank governor in succession to Matthew Elderfield has caught a few people on the hop, although the appointment has received a broad, if cautious, welcome.

Taoiseach Enda Kenny said that Ireland has no intention of asking for a second bailout, and wants to be the first country to exit its programme.

IRELAND’S borrowing costs hit record highs yesterday after two creditrating agencies warned its debt is at risk of further downgrades, piling pressure on the Government to bring the budget forward.

IRISH bank shares plunged yesterday as funding issues persist and less signs of an economic turnaround are seen.