GLOBAL POLITICAL AWAKENING: Ireland's crisis flares as investors dump bonds
source: http://globalpoliticalawakening.blogspot.com/2010/11/irelands-crisis-flares-as-investors.html
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DUBLIN – Ireland's financial troubles loomed large Wednesday as investors — betting that the country soon could join Greece in seeking a bailout from the European Union — drove the interest rate on the country's 10-year borrowing to a new high.
The yield, or interest rate, on 10-year bonds rose above 8 percent for the first time since the launch of the euro, the European Union's common currency, 11 years ago.
Bond traders increasingly believe that Ireland soon will be forced to tap Europe's emergency fund for euro-zone nations facing a threat of bankruptcy. The 16 nations of the euro zone created that euro750 billion backstop in May as the EU and International Monetary Fund provided an emergency euro110 billion loan to Greece.
READ MORE: http://globalpoliticalawakening.blogspot.com/2010/11/irelands-crisis-flares-as-i...
The yield, or interest rate, on 10-year bonds rose above 8 percent for the first time since the launch of the euro, the European Union's common currency, 11 years ago.
Bond traders increasingly believe that Ireland soon will be forced to tap Europe's emergency fund for euro-zone nations facing a threat of bankruptcy. The 16 nations of the euro zone created that euro750 billion backstop in May as the EU and International Monetary Fund provided an emergency euro110 billion loan to Greece.
READ MORE: http://globalpoliticalawakening.blogspot.com/2010/11/irelands-crisis-flares-as-i...
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