After Ireland, who’s next?

Fears are growing that not just Portugal, but Spain could be next in line for assistance from the EU and the IMF

27th November, 2010

Bond traders moved quickly last week to answer those who wondered whether Ireland’s problems, post-bailout, would be less dangerous or just as contagious.

Fears of the debt crisis spillover reaching Portugal and, even worse, Spain, fuelled more selling of government bonds issued by peripheral eurozone members.

The headline rate for measuring Irish government risk - the yield on 10-year bonds - broke yet another symbolic threshold by eclipsing the once-unimaginable 9 per cent...

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