Ireland: Not Contained-- 70 Billion Borrowed

[Realistbear]

http://uk.finance.yahoo.com/news/Irish-banks-borrow-70-billion-reuters_molt-3409001979.html?x=0

.

Irish banks borrow 70 billion euros from central bank

12:52, Friday 11 March 2011

DUBLIN (Reuters) - Ireland (Berlin: IIK.BE - news) 's central bank lent banks based in the country 70 billion euros (60.3 billion pounds) in special funding at the end of February,

a jump of 19 billion euros from the previous month

, data showed on Friday

.

What with Spain being re-rated and now more poisons hatching out of the Irish woodwork we could be on our way to a full blown Euro crisis. FX taking it calmly so far with the Euro barely moving vs. the $:

1.37693

Edited March 11, 2011 by Realistbear

[Realistbear]

Iam afraid Portugal doesn't look much better:

http://uk.finance.yahoo.com/news/Factbox-Portugal-additional-reuters_molt-2461222839.html?x=0

13:28, Friday 11 March 2011

BANGALORE (

Reuters

) - Portugal announced additional spending cuts and reforms on Friday to cut its fiscal deficit in an attempt to stave off intense pressure to seek a bailout.