Irish CDS Surge To Highest Level Since March 2009

The CDS on Ireland’s sovereign debt has widened dramatically this morning as a result of expanding concerns over the country’s banking sector.

Ireland’s banks are facing a September 10 funding cliff, and Irish bank shares are selling off this morning.

Ireland’s CDS is now at its highest level since March of 2009, crossing the 300 bps barrier.

From CMA Datavision:

EUR Sovs 816

Here’s how Ireland got into this mess >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.