But insisted that no outside assistance was under pressure to finally “soft services” for help of the Irish government has unwittingly pushed the euro zone’s first “domino” – on the rescue plan did not appreciate the market is to eyes from the Irish crisis to Portugal and Spain, and Portugal are likely to be the next domino piece.

Ireland, Portugal and Spain to avoid

Fear less

With growing panic spread of the crisis, Portugal and Spain on Wednesday sovereign bond credit default swaps (CDS) hit record highs.

Market data provider Markit’s statistics show that Portugal and Spain on Wednesday, CDS index rose sharply, which Portugal 5-year Treasury CDS index rose 21 basis points to 510 points, the Spanish bond CDS index over the same period rose to 312 points, were the highest record in history record. CDS spreads, the lower that the lower the risk of debt default, and the higher the CDS spread means that the higher the risk of defaulting on its debt.

Morgan Stanley Asia Chairman Stephen Roach recently non-executive issued a warning after the Irish for assistance, be prepared to face more European sovereign debt crisis. He said the crisis could spread to southern Europe, a series of development events can be predicted, first Greece, then Ireland, then the market began to concern the question of Portugal and Spain.

Push down all walls, with the Greek crisis, no country of hope and the country’s “detached” exactly the same, Portugal and Spain also hastened to dissociate itself with the Irish.

Spanish Economy Minister Michel Salgado said on Monday that the Spanish do not need to “Irish” type of assistance program and does not need to take further tightening measures to reduce the budget deficit and the country and apply for assistance against the Irish par.

Portuguese Prime Minister Jose – Socrates on Monday also stressed that “Portugal and Ireland, there is no correlation between the” market situation in Ireland want to make aid application to the EU back to normal, Portugal, apparently troubled by the contagion effect.

Higher risk than Spain, Portugal

Economies of scale from the perspective of the whole of Ireland for the euro area is not a “systemically important countries,” Portugal is also inadequate for the weight, but Spain is Europe’s largest economy in the world. According to Eurostat data, Ireland’s economic output in 2009 was 166.3 billion euros, to 159.8 billion euros, Portugal, Spain up to 1.0476 trillion euros. In contrast, the first outbreak of the crisis of the Greek total output 230.3 billion euros. Output of the euro area up to the boss 2.3642 trillion euros in Germany, France, output of