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Saturday, 13 November 2010

EU leaders cannot squash expectations of Irish rescue - Telegraph

EU leaders cannot squash expectations of Irish rescue - Telegraph: "attempt to ease fears that have helped drive yields on Irish government bonds from 6pc to 9pc in just three weeks could not kill talk Ireland was poised for an €80bn (£68bn) bailout as early as this weekend.
Worries about Ireland's costly bank bailout, weak growth and budget deficit have been intensified by Germany recommending that bondholders take 'haircuts' - share the pain - in bailouts.
With investors demanding sky-high returns to shoulder the risk and Ireland's Prime Minister Brian Cowen complaining markets had been led 'to question the commitment' to debt repayment, EU ministers at the G20 summit moved to address the crisis."

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