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.

chart

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

ireland moneygame-us