EFSF Cash For Irish Bailout Running Out - News and Current Events | futures.io
futures.io futures trading

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

EFSF Cash For Irish Bailout Running Out
Started:November 27th, 2011 (12:50 PM) by Quick Summary Views / Replies:155 / 0
Last Reply:November 27th, 2011 (12:50 PM) Attachments:0

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

EFSF Cash For Irish Bailout Running Out

Old November 27th, 2011, 12:50 PM   #1 (permalink)
Quick Summary
EFSF Cash For Irish Bailout Running Out

Just when Europe thought it would only have to worry about an Italian bailout, we get news that not only is Greece about to renegotiatie its entire debt haircut, but that Ireland suddenly finds itseld out of bailout cash. From the Independent: "As EU leaders dither, the European Financial Stability Facility (EFSF) -- the limp pan-euro bailout fund -- may struggle to raise enough money to fund the payments to Ireland agreed under the 67bn IMF/EU bailout package. There is "genuine fear" that the fund may not be able to access the markets as investors shun the euro region, according to UBS." As noted earlier, the EFSF's rates are soaring at an alarming pace: "every 1 per cent rise in funding costs for the EFSF costs Ireland about 200m, according to calculations by Goodbody Stockbrokers' economist Dermot O'Leary." All is good though according to UBS because should the EFSF fail in even its existing duties which do not involve being levered at an X multuiple to rescue Italy, others will step in: "But UBS indicated that there was no "immediate funding threat to Ireland" as money may also be available from the IMF and through bilateral loans from the UK, Denmark or Sweden." We wonder if the UK, Denmark or Sweden are aware that suddenly they are on the hook to rescue Ireland, which up until recently was considered the A+ student of the European bailout. If not, we are confident the bond market will shortly remind them.

h/t Ciaran

More on ZeroHedge...

Reply to share your thoughts on this current event.



futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > EFSF Cash For Irish Bailout Running Out

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
European Bailout Time Of Death: EFSF Cut In Half Due To "Market Conditions" Quick Summary News and Current Events 0 November 25th, 2011 03:20 AM
Sovereign CDS, EFSF, And The IIF Quick Summary News and Current Events 0 November 13th, 2011 11:00 AM
New Irish bank bailout could add to debt agony kbit News and Current Events 0 June 24th, 2011 01:47 PM
Officials Begin Working Out Irish Bailout Details Quick Summary News and Current Events 0 November 22nd, 2010 02:20 AM
Irish Finance Minister Confirms Plans to Ask for Bailout Quick Summary News and Current Events 0 November 21st, 2010 10:10 AM

All times are GMT -4. The time now is 08:00 PM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-21 in 0.05 seconds with 19 queries on phoenix via your IP