Finance Minister Michael Noonan said today that he has instructed a panel of experts to review the viability of a number of key bond markets.
The review will examine the impact of new market conditions on yields and rates.
Mr Noonan also said the panel will examine whether there are other markets with similar or worse fundamentals that are worth investing in.
“We will also consider the impact that a market in the US, for example, is having on other markets,” he said.
In a speech in Dublin, Mr Noonan acknowledged that the economy was fragile and warned of the risks associated with the crisis.
He said that the country would need to take urgent action to strengthen its institutions and ensure that the Government’s austerity programmes were not harming people or the economy.
“We are going to be very careful and we are going do everything that we can to ensure that we don’t lose sight of that,” he added.
The Government has already slashed funding for many areas of social welfare and public services as a result of the financial crisis.