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NO CREDIT WHERE IT IS DUE…

By ATWadmin On January 30th, 2009

More bad news for the Irish Republic…

“Ireland’s government debt has become the riskiest in the euro zone, surpassing Greece’s sovereign bonds, according to credit-default swap prices. Contracts on Ireland roseto 269, according to CMA Datavision prices, while credit-default swaps on Greece’s debt fell to 248.2 at 5pm. The cost to hedge against losses on Irish debt is now more than Chile, the Czech Republic, Israel, Malaysia, Saudi Arabia, Thailand and China, the CMA prices showed.”

It seems that regardless of Government spin, the Irish economy is now seen as a basket case almost on a par with Iceland, and there is much more trouble to come. Can Ireland survive?

One Response to “NO CREDIT WHERE IT IS DUE…”

  1. Well, there’s always the chance Pope Benedict will fly over and give the whole country the Last Rites.