Reuters: Eurozone Sources Say Ireland In Talks To Receive Emergency Funding From EU, Taxpayers Stuck With Full Bill

Here we go. European bailout #2. Eurozone sources say assistance to Ireland does not foresee any debt restructuring or 'haircuts' for bond holders. In other words, more strikes and riots in store, as taxpayers get stuffed with the full bill. Next up on the bailout wagin: Italy, Portugal, Spain, France, BeNeLux, Austria, and everyone else.

And now, Ireland denies it all, says it is perfectly ok with AIGIRI at 12,800 bps.

• IRISH FIN MIN
  RESPONSES TO `LATEST SPECULATION'
• IRISH FIN MIN
  SAYS IRELAND IS FULLY FUNDED INTO MID-2011
• IRISH FIN MIN
  MADE COMMENT IN E-MAIL STATMENT
• IRISH FIN MIN
  SAID THERE IS NO APPLICATION FOR AID
• REUTERS CITES
  `EURO ZONE SOURCES' ON IRELAND
• IRELAND IN
  TALKS ABOUT TAPPING EU FUNDS, REUTERS REPORTS
• IRELAND WILL
  `VERY LIKELY' GET AID, REUTERS REPORTS

Comments

[Djirk]

Is Benelux a country? Last I checked the Netherlands had the 6th largest economy in the EU. Economically more like Germany than Spain.

At least the Germans are talking sense and saying taxpayers can not be on the hook for back stopped risk.

Sweden (ok small and not in the EU) is pulling out state capital and private capital is stepping in looking for yield. That is how it should work.

Given the EU internation debt circle jerk, net saving nations would be the ones that step in at higher yields. In other words, savers rewarded, over leveraged punished. How it should be. Obviously not without some pain. But pain will come one way or another.

[gwar5]

This is going to be worse than the potato famine.

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