Tuesday 28 September 2010

Irish borrowing costs balloon on S&P warning

Telegraph
"An S&P analyst said in an interview broadcast on Tuesday that the agency's estimate that Ireland would have to pour €35bn (£29.6bn) into Anglo Irish, the nationalised bank, looked increasingly realistic and any amount beyond that could trigger rating downgrades. The €25bn of aid earmarked for Anglo Irish so far would already push Ireland's 2010 budget deficit to around 25pc of gross domestic product, compared with an EU limit of 3pc that Dublin aims to reach by 2014."

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