 |
| Angela Merkel |
From Bloomberg - German Chancellor Angela Merkel said the prospect of serial European bailouts was “exceptionally serious,” sending the euro to a three-month low as officials estimated saving Ireland will cost 85 billion euros ($114 billion). Irish bonds dropped and the premium that investors demand to hold Spanish debt over German counterparts jumped to a euro- era record as the relief rallies triggered by Ireland’s Nov. 21 aid request evaporated. Traders are now betting the turmoil that started in Greece a year ago will spread to Portugal and Spain. Read full story here:
Posts
1 comments:
Evidently Ireland didn't borrow enough or spend enough in stimulus money to work their way out of this predicament. Perhaps Obama could give them some sound advice on what it takes to create jobs and stimulate the economy. Personally, Ireland should have taken a close look at the California model, it's working great!
Post a Comment