Borrowing and Bail

By Econ70 | 03/10/2011

Borrowing costs for Portugal, Ireland and Greece have hit highs amid concern that Europe will not take action to dispel fears of sovereign defaults. Long term rates for Spain came close to setting a record and Italy’s cost rose above 5% for the first time since 11/08. Portugal was forced to pay a much higher…

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Irish Elections

By Econ70 | 02/27/2011

Yesterday Ireland held elections; Fianna Fail (FF) lost to Fine Gael & Labour (FGL). When the Irish economy tanked in ‘08 FF had the government guarantee all bad bank debt; a dreadful decision resulting in a $93 billion bailout and a painful austerity program. FGL promises to renegotiate it all. This may cause a Euro…

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