Sunday, March 8, 2009

“Ireland can afford to bail out all the banks”

JP Morgan backs 'remarkably strong' Ireland to pay debts

One of the biggest Wall Street banks has warned investors not to bet on Ireland defaulting on its debt, as its financial position remains "remarkably strong" despite the banking crisis and economic downturn. JP Morgan bond analysts pointed out in a note to clients this week, that many other eurozone countries "have significantly worse public sector debt to gross domestic product (GDP) ratios".

Posted by devo @ 08:43 PM (948 views)
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3 thoughts on ““Ireland can afford to bail out all the banks”

  • Perhaps it is because Ireland has not drifted too far from its agricultural roots, agriculture after all being one sector that is fairly recession proof especially considering the state of agriculture in the more arid and ecologically damaged parts of the world at this moment in time.

    Potatoes will once again be the super food of western europe!

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  • alphabetzoo says:

    Hmmmm, JP Morgan is one of those banks with fingers in many pies thanks to the repeal of Glass-Steagal etc.

    I wonder what investments other parts of JP Morgan have in Ireland?

    Vested interest anyone? People need to start asking these questions of ANY company that seeks to provide a view on where any country/investment is going. The lesson of the shite rating agencies is VESTED INTERESTS.

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  • Deciphermonkey says:

    They certainly have a vested interest. All the banks do. The status quo (i.e. working economies) will be much safer for them as a whole. It’s ALL about the money. It’s not in their job description to care about the country. They tell you want they think that you should hear to save their bonus.

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