I'm logging off until this evening, but for those on here that seem to be barking at the moon and claiming the Irish state-guaranteed banks' actions now are renegade and will deter all future investment, remember Iceland?Iceland against which the UK amusingly invoked its anti-terrorism legislation in 2007? That reneged on its debt, and indeed its people give two fingers to foreign debt in its banks (often classed as "odious debt" under international law)?The same Iceland that raised USD 1bn a month ago (equivalent to USD 240bn for the UK's 63m population), at 5% for five year money. Two times oversubscribed.Truth be told, investors seem to generally understand the present actions and once the banks are cleansed of toxic property loans, Irish banks may well be the best place to invest money because of the intrusive international oversight plus a hugely bolstered domestic regulator plus an ordeal which hasn't broken the banking system and is likely to mean it's particularly expert in future. Arguably we have a better handle on the sludge in the Irish banking system than you have in the UK, Germany, Spain or Italy.
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