05.10.2010 - Peter Sutherland and Ireland’s sovereign wealth fund
From Marketoracle.co.uk: Peter Sutherland, former Irish attorney general, points out that Ireland is not in “desperate” shape. He points out that: “Ireland has funding up to 2011 and has 24 billion Euros in its Sovereign Wealth Fund.” Thus, in his estimation, Ireland will not go broke until 2013, at least. According to his policy it is “OK” for the government to continue to fully guarantee, and pay as they fall due, “retail” banking bonds. It is my argument that these bonds should have been negotiated down in September of 2008 when the Irish bank guarantee was first issued.............................................Full Article: Source
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