Jump to content
House Price Crash Forum
Sign in to follow this  
Guest

Irish Leader Says Ireland Faces No Solvency Crisis.

Recommended Posts

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8031382/Ireland-and-Portugal-debt-crises-start-to-ease-after-leaders-pledge-to-take-action.html

'Irish premier Brian Cowen said Ireland is funded until the middle of next year and faces no solvency crisis, denying that the country is near a “tipping point”. We are determined to do what’s necessary to achieve international confidence,” he said.

BNP Paribas said debt jitters on the periphery of the eurozone were looking “very dangerous”. There are concerns that contagion could spread unless Europe’s leaders restore confidence quickly. The mood was not helped by comments from German Chancellor Angela Merkel appearing to rule any chance that the EU’s €440bn rescue fund will be made permanent.

Rating agency Moody’s chilled markets on Monday when it downgraded Anglo Irish Bank senior debt by three notches to Baa3, near junk, even though Irish officials have ruled out any “haircut” on this category of debt, viewed as sacrosanct. No bondholders have faced default on senior bank debt in Europe or America since the crisis. Any change would be a major market event. '

I don't know about anyone else but I'm immensely reassured.

I agree, it's different this time.

Share this post


Link to post
Share on other sites
Irish premier Brian Cowen said Ireland is funded until the middle of next year and faces no solvency crisis

Oh dear, when they start coming out with stuff like this, it can't be long before TSHTF.

Share this post


Link to post
Share on other sites

Oh dear, when they start coming out with stuff like this, it can't be long before TSHTF.

"hell, liquidity is better than ever": Ken Lay t-2 to Enrom bankruptcy

"lehman is a strong bank and we are going to burn the shorts": Richard "Dick" Fuld t-5 Lehman bankruptcy

wonder how long lenihan has....

Share this post


Link to post
Share on other sites

http://www.bloomberg.com/news/2010-09-29/irish-banks-hooked-on-ecb-cure-as-lenihan-s-financing-fails-euro-credit.html

Irish Banks Hooked on ECB Cure as Lenihan's Financing Fails: Euro Credit

By Dara Doyle and Joe Brennan - Sep 29, 2010 11:59 AM GMT+0100

The banks’ failure to find alternative funding sources in the capital markets is stoking investor concern that the state may be overwhelmed by bailout costs. The banks are “tied to the sovereign,” Lenihan said in a Sept. 22 speech to a parliamentary committee.

Irish bank debt is Irish Sovereign debt. Ireland may need a Greek-style ECB bail out soon. Quick, buy more Euros!*

* <_<

Share this post


Link to post
Share on other sites

http://www.bloomberg.com/news/2010-09-29/irish-banks-hooked-on-ecb-cure-as-lenihan-s-financing-fails-euro-credit.html

Irish Banks Hooked on ECB Cure as Lenihan's Financing Fails: Euro Credit
By Dara Doyle and Joe Brennan - Sep 29, 2010 11:59 AM GMT+0100
The banks’ failure to find alternative funding sources in the capital markets is stoking investor concern that the state may be overwhelmed by bailout costs. The banks are “tied to the sovereign,” Lenihan said in a Sept. 22 speech to a parliamentary committee.

Irish bank debt is Irish Sovereign debt. Ireland may need a Greek-style ECB bail out soon. Quick, buy more Euros!*

Yet the Euro continues to rise against Sterling.

http://www.irishtimes.com/business/exchangerates.html

Surely the prospect of a significant "adverse development" is greater in the eurozone?

(Scratches head)

* <_<

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.