Thursday, September 23, 2010

It's Official Ireland Double Dips

Ireland posted a surprise (to Keynesians) decline in second-quarter gross domestic product. The GDP contracted 1.2% in the second quarter from the preceding three months, the nation's Central Statistics Office said. This puts further into question Ireland's ability to repay its debts without outside help.

Irish/German 10 year bond yield spread hits euro lifetime high of 426 bps.

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