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Confused reports continued to swirl as Irish Finance Minister Brian Lenihan ready to meet with colleagues in the euro area than during Tuesday night dinner in Brussels. Dublin has so far accepted to organize discussions on "market conditions" with the partners of the EU, but insists on the fact that it is fully funded by until June and hopes to calm the nerves to €6bn (￡ 5 Institute) budget reduced at the beginning of December.

Simon Derrick of the Bank of New York Mellon said that negotiations on bailout the Ireland were amazing."Creditors say please take money, and the debtor said" we want that it ".C' is very strange."

"Yet the European Union is good thing to try to create a wall of fire as soon as possible.Ils have learned the Greece once bond yields reached this level, they have 10 business days left to avoid daytime crisis." "They do allow to spread to a large country, because at that time where the contagion has become overwhelming", he said.

Contagion has already pushed the Portugal aboard, pushing yields on bonds of 10 years for the level of risk over 6 5pc.Finance Minister Fernado Teixeira dos Santos said the country is at the mercy of global forces can be forced to ask for help.

"The risk is high because we face not only a national issue or country .c ' is the Greece, Portugal Ireland. market view problems these savings because we are all in this together in the euro area." "Suppose that we are not in the euro area, the risk of contagion may be lower," he told the Financial Times.

M. Teixeira is slightly veiled attack German Angela Merkel and Nicolas Sarkozy France, which precipitated the latest crisis in opening the door to default sovereigns and holders "haircuts" for the States of the eurozone in difficulty.

"We like the running target and ready to kicked in the target and then someone because of us soccer player, but this time, is there no penalty."

A simultaneous the Ireland bailout and the Portugal may operate to €200bn, depleting a large part of the EU lifeline. European installation of financial stability (EEHC) can raise up to €440bn on bond markets, but only two thirds of it disponibles.Il CAU supposed to 3 EUR extra for each €8 EU bailout formula.

The concern is that the crisis could extend to Spain, which has a much larger than the Greece economy of Portugal Ireland combined.Foreign banks have €850bn Spanish debt exposure.

David Schautz, Commerzbank, credit strategist said that EU bailout Fund would come under "serious strain" Spain need sauvetage.Pourtant operation, this is still a risk serious Spain must roll over or lifting of €175bn debt next year.

Mr. said Schautz funds become wary if Spanish 10-year bond yields rise much 5MC above, compared with 4 5pc at this time."Investors are nerve and panic can get fast", he said.

Economy Secretary José Manuel Campa, Spain, said his country was "Greece nor Ireland and never will be."The Spain economy stagnates again but debt is still just 66pc GDP deficit and budget and current account fall quickly.

Cannot be said of the Greece, where the debt crisis is going from bad to worse despite his rescue €110bn avril.Eurostat revised GDP last year 127pc 115pc Greece debt while the deficit is still worse thought 15.4pc.La debt will go to 144pc of GDP this year, risking a compound debt trap.

The Prime Minister George Papandreou said that the country can apply for an extension of its debt repayment schedule, a move interpreted by investors as the beginning of a slippery slope to default.

He accused Germany grow weaker EMU States on the edge by pressing on hair holders, saying: Ms Merkel proposals had "created interest rates higher for countries in a situation difficile.Cela spiral could create a prediction .c ' is like saying to someone,"because you have a problem, I will put an even greater burden on the back."""This could force economies towards the bankruptcy", he said.

Ireland, the use of the EU or the IMF would be traumatic, a compelling on a Fianna Fail Government which was still basking in the glory of the Celtic Tiger verdict everything just three years ago.

M. Lenihan seems determined to clothe all rescue as a bail-out for banks rather that to the sovereign irlandais.Cela cannot be easily. Vice-President of the ECB, Vitor Constancio, said the GED "" can lend directly to banks: installation-ready Governments. ""

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