Saturday February 22, 2020

Banks, bailouts and bonds: where now for Ireland?

Now that we will have access to the ESM, will this country need a second bailout? In a special report, Ian Kehoe asks when Ireland will be able to stand on its own again.

2nd June, 2012
'Unless there is a miracle, I fail to see how all the debt can be paid back. The market knows this, and this is why there will be no return to the market any time soon.'

Peter Dixon has spent much of the last few months scratching his head and biting his tongue. His office boasts an impressive panoramic view of London's vast skyline, but his mind has been elsewhere. This crisis is spreading, not receding. Investors remain spooked, policymakers rattled and politicians divided. Five years in, the toxic blend of banks, bailouts and bonds refuses to disappear.

Commerzbank is a big name in European finance, one of those big German...

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