- Oct 26, 2006
Ireland's country debt is at a greater risk of default than that of Iraq's and Romania's as its credit default swaps (CDS) saw the worst deterioration among its sovereign peers over the third quarter this year, CMA DataVision said on Thursday.
The cost of insuring Irish debt against default or restructuring for five years leapt 72 percent between July and September, above Portugal's 30-percent jump and the 28 percent increase seen for the U.S.
Irish sovereign debt riskier than Iraq's - report - Yahoo! News UKIreland is grappling with debt that is set to 155 billion euros (135.6 billion pounds) this year as its wrestles with the cost of bailing its banks.
The situation is getting worse not any better.