Right now, the situation in Ireland is worsening as CDS on Anglo Irish Bank skyrockets. But worries over that bank are spreading to other Irish banks and the sovereign, as well as Italian banks.
Concerns are increasing that the bank bailout organised by the Irish state may need to be abandoned in the interest of the Irish economy.
From CMA Datavision:
And Italian bank CDS, from CMA Datavision:
Reminder: Here’s how Ireland got into this mess >