We’re being played for fools

It is pure madness to buy worthless bank loans and sell valuable state assets at a discount when there is a simpler and cheaper way out of this mess

23rd April, 2011
We’re being played for fools
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Where do you think the financial markets assess Irish risk? What countries are we compared against? Surely we are still regarded as a European developed nation when it comes to risk?

Think again. After - or more likely because of - our recapitalisations and bailouts, the world regards us as a bigger default risk than Uruguay, Peru, Columbia, Tunisia, Kazakhstan or Guatemala.

Just look at the graph to see the company we keep. It shows...

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