Ireland’s bond spreads have spiked to 480 bps over German bunds (via Zero Hedge).
The yield on its 10-yr bonds are now at 7.3% (via @jsphctrl).
The country’s tax intake has fallen 5.4% this year, through Octobe, it has just been announced (via @World_First).
Two notable Irish economists are saying the country’s budget, released on December 7, may be the moment the country seeks IMF support.
The country’s CDS has spiked today to 522.4 bps, from yesterday’s close at 498, according to CMA Datavision.
And the ECB may be unwilling to act to support the country, because it knows it needs restructuring and any action may actually strengthen the euro.
Ireland may be on the ropes, and indeed may be waffling on the exact date it releases its budget (via @thejournal_ie).
So, who is going to act? The ECB may have already (via @World_First), but does it even matter anymore?
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