The National Treasury Management Agency said today it bought €500m of government bonds from the Central Bank and then cancelled them.

This further speeds up a timetable tied to an agreement to ease the country's debt burden.

As part of a 2013 deal struck with the European Central Bank to stretch out the cost of liquidating the collapsed Anglo Irish Bank, the NTMA said it would slowly feed new bonds worth €25 billion into the market via the Central Bank. 

Last year, the Central Bank sold four times the minimum €500m of bonds it was obliged to sell.

So far this year it has offloaded another €1 billion to the debt agency, which has cancelled all the bonds it has purchased.