Ireland has not asked for aid, Germany confident Ireland will implement budget consolidation successfully Don’t know what newspaper report he’s refering to.
Incase of need, the EU has all the necessary instruments in place to assist Ireland We are following the situation, there is no need to activate any mechanism
Portugal 5 year cds hits record 505 bps Irish/German 10 year govt bond yield spread hits 680 bps for first time
Apparently Portuguese bonds are now trading through the level that can trigger higher margin requirements from LCH Clearnet (London Clearing House), as happened to Ireland last week. Won’t be helping the euro. We’re at session low 1.3719.
Recapitalization burden is often over-stated as a contributor to the required fiscal adjustment Investors not yet fully convinced action on banks effective ans sufficient No “hard indication” yet that stress levels in Irish residential mortgage books will be exceeded Selling … Continue reading
Irish woes are helping limit EUR/USD gains. Couple of stories noted in Irish Times. Here’s the other
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