Bond default by Ireland is unlikely, think tank says

04/14/2010 | Financial Times (tiered subscription model)

There is little risk that Ireland's $34 billion bank bailout will push the nation into default on its sovereign debt, according to Ireland's most prominent think tank, the Economic and Social Research Institute. The rescue will cost about 15% of gross domestic product, making it comparable to bailouts in other nations. "While such an addition to the national debt is obviously large, it is manageable," the institute said.

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