EUR/USD down. From session high 1.3786 we’re all the way back down at 1.3727 presently.
- Ireland will be out of the bond markets for about 3 years
- Two sets of money required for banking sector
- Banks will need more capital
- Believes corporation tax is safe
- Will be bound by the detail of the 2011 budget if in government
Right details
Michael Noonan, finance spokesman for Fine Gael has said
“I’m hearing that there is a conflict of policy position between the IMF and the European Central Bank. The IMF would be following the type of American model where those that lend recklessly should be punished as well as those who borrow recklessly. And that would mean, as the banking system is worked out, there would be discounts taken from the bondholders.”
Haircut anyone?