The NTMA says the yields being sought for 10 year bonds are down sharply at over 6 % – compared to more than 15 % this time last year.

The agency plans to hold 3 or 4 more short term maturing debt auctions this year – similar to the sale earlier this month of 3 month Treasury Bills – which raised 500 million euro.

However the NTMA says a full return to the international markets remains dependent on several factors – including an honouring of the bailout deal and a resolution of the eurozone debt crisis.