Ireland is now able to borrow money for free.

The country has today borrowed half-a-billion euro from investors - who don't want us to pay any interest at all.

The fall in the cost of borrowing is partly because of the latest measures from the ECB, which has driven down the cost of borrowing to most Eurozone countries.

This is because the 'quantitative easing' measures have increased the supply of money in the Eurozone, meaning it should be easier to get credit and therefore creating competition among potential lenders.

In recent times other mainstream Eurozone countries have been able to make a small profit on borrowing - as investors are happy to take a negative interest rate to guarantee their investment will be returned.

The fall in interest rates comes in spite of new fears that Greece may default on its loans following the election of the new anti-bailout government.