Tomorrow the European Union and International Monetary Fund begin scanning the books of indebted Irish banks to ascertain whether Ireland can treat its banking system on its own or it needs help from the EU-IMF 750 billion-euro ($1 trillion) rescue fund.

According to the estimates of Barclays Capital, Ireland needs about 80 billion euro. Klaus Regling, manager of the rescue facility, said the EU could obtain this amount in 5-8 working days.

Irish bonds fell second day with the 10-year yield climbing by 5 basis points to 8.51%. The yield spread between Irish and German bunds rose by 6 basis points to 567 basis points, while its maximal level was seen on November 11 at 646 basis points.

UK Chancellor of the Exchequer George Osborne noted that Britain which didn’t participate in the 860 billion euro aid program in the wake of the Greek crisis is ready to support its neighbor aiming not to let Irish bank woes spill over into the UK market.

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