Submitted by Reggie Middleton on 03/31/2011 - 13:04
Stress test results are out. Ireland now has the ammunition to get real. For those who don't think an Irish haircut is realistically on the table, just remember that this was a campaign platform for the new government. This is what they used to get into office. In addition, the Danish lopped a sizable bang of hair off of its banks bondholders, and Denmark is still on the map. Yes, you can cut your lender's head and survive. Governments have a history of it. If Ireland goes that route, the "Euraclypse" (yeah, I stole that one from Tyler) floodgates are open.