Ireland wins vote of confidence as bond issue oversubscribed

Its four-year bonds were oversubscribed around five times, while eight-year bonds were three times oversubscribed. The National Treasury Management Agency (NTMA) says the Government met its target, raising €1bn from the eight-year bonds paying 4.5% interest, and €500m from the four-year bonds, paying 4%. Ireland has been plagued by rumours it will have to approach the International Monetary Fund or the European Union for financial assistance as it struggles to keep its banking sector afloat and deal with its budget deficit. At a banking conference in Dublin yesterday Patrick Honoha...