New New Highs For Irish Government Bond Spreads
Irish spreads reached a new high today an German demands of determining a burden sharing plan on any future bailouts. In short Germany refuses to underwrite all of the peripheral Europe new debt. This raised some restructuring talk in the markets.
In the mean time Ireland is working on a 2011 budget, it remains to be seen whether they can bring down the budget deficit.
Chart 1. Ireland vs. Germany 10 Year Government Bond Yield Spread
