HAD Ireland’s government expected to be rewarded by investors after caving in to pressure to seek salvation from the European Union and the IMF, it was soon disabused. So were those who hoped that the crisis engulfing the euro could be contained at the River Liffey. Unlike the relief rally when the EU bailed out Greece in May, investors this time barely paused for breath before continuing to dump Irish assets, as well as those of Portugal and Spain. The euro’s future will be secure only when this contagion is banished. And that, it is now clear, crucially depends on what happens in Spain.
sábado, 27 de novembro de 2010
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