US

Ireland Needs To Come Clean Over The Costs Of The Anglo Irish Bank Bailout

Orlando Green, interest rate strategist at Credit Agricole CIB spoke to CNBC this morning about the current state of Europe’s debt crisis.

1:15 Uncertainty is driving the market, and that is the core problem with Ireland. The ultimate cost of Anglo Irish remains unknown. That is spooking the market.
2:10 Up to €10 billion or more is the threat against Ireland right now. Until that is public, there is no understanding in the markets.
2:40 Bank borrowing from the ECB has been heading up not just in Greece, but in Portugal too.
3:15 Michael Langford from Streamtrading.com says that an increase in government spending on programs that will lead to employment will be positive, but there are serious concerns over wastefulness.
4:00 Langford also pointed out that a downturn in Europe is a threat to China, but it isn’t a problem at the moment.

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