Oh boy, this sounds really awkward, and it bodes ill for Ireland’s ability to finance itself or establish any credibility with the financial community going forward.
On Friday, Irish Finance Minister Brian Lenihan held a conference call with London investors to discuss the restructuring, but a screwup by Citigroup meant that all of the dial-ins could be heard by everyone else.
Between 200 and 500 investors are understood to have been on the call, and as they realised their lines were not muted many began to heckle Mr Lenihan.
Some traders began making what one banker on the call described as “chimp sounds”, while another cried out “dive, dive”. A third man said “short Ireland” before adding “why not short Citi too?”
As the call descended into chaos, with one participant heard to say “this is the worst conference call ever”, Citigroup officials shut down the line.
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