The cost of borrowing for the country continues to hit record highs today. The interest rate demanded by investors to lend money to Ireland for ten years stands at 9.25% this afternoon. The spread between Irish bonds and those of Germany also rose above 680 basis points, hitting a new high for the ninth session in a row. Portuguese and Spanish bonds are also coming under renewed pressure on the international bond markets. Finance Minister Brian Lenihan has said the main reason why Irish bonds yields are rising is because of uncertainty surrounding European Union plans for future debt. But Mr Lenihan also said it appeared that the markets did not fully believe the bank recapitalisation figures published at the end of September. Irish bond yields saw their biggest one-day leap since the launch of the euro yesterday in the face of mounting investor unease over the country's shaky public finances, placing the European bond market under serious strain.