S&P Puts MONSTER Price Tag On Anglo Irish Bailout, Spreads Widen To New Record, Stocks Tank

Good morning. Your day starts in Ireland, where S&P has come out and estimated that the ultimate price tag of bailing out Anglo Irish Bank could exceed 35 billion Euros.

Irish-German 10-year bond spreads have hit a record spread of 455, according to ForexLive.

The government has rushed out and said they won’t be defaulting. That never does much good.

Ireland’s ISEQ index is getting off to a very weak start.


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