SPAIN and Italy exceeded expectations in raising short-term money in abundance and at much reduced rates on the markets.

SPAIN and Italy spread cheer through eurozone markets yesterday with successful debt auctions at sharply lower borrowing costs, in 2012’s first real test of appetite for debt from the eurozone’s periphery.

FOR all of Ireland’s efforts to distinguish itself from Greece, it’s their similarities that have helped debt sold from Dublin to outperform all peers since last month’s meeting of European leaders.

IRELAND’S credit rating may be cut by Moody’s Investors Service after the Government pledged as much as €50 billion to save the country’s banks.