Worldwide Offices
They never said it would be easy. Just when it looks that Ireland's battered economy is turning the corner, a storm builds to crisis proportions on the Euro zone's South Eastern periphery. The crisis has unfolded in distinct phases. The first consisted of German Government foot dragging over the go ahead for a €45bn rescue package that helped to spark panic in the bond markets, with resulting contagion effects for Portugal, Spain, and to a degree, Ireland. It is fortunate that the National Treasury Management Agency has prefunded much of this year's financial requirement, but the impact of the crisis on confidence, and on the cost of funds to the Irish banking sector, and by extension on borrowers, is real. The cost of the bailout swelled as the Germans prevaricated during
Read More Post a comment
