Don't Forget the Irish
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10-year bond yields in Ireland ticked higher today, as fears of a 'No' vote on Thursday's EU referendum spooked markets. Polls show that most Irish back the EU treaty, but with polls close it is not inconceivable that the 'No' side will win, according to reports out of Ireland.
The Irish debt agency said last week that the country would probably be unable to finance its debts if the treated is rejected, since it is unlikely they will have access the European Stability Mechanism. A rejection of the treaty would also further complicate Europe’s problems and hurt Germany's ability to force austerity in other countries, such as Greece, Portugal, and Spain.
Reports out of Ireland today showed high jobless rates, and opponents are using this information to rally against the EU treaty.
iShares MSCI Ireland Capped Investable Market Index ETF (NYSE: EIRL) tracks equities in Ireland.
The Irish debt agency said last week that the country would probably be unable to finance its debts if the treated is rejected, since it is unlikely they will have access the European Stability Mechanism. A rejection of the treaty would also further complicate Europe’s problems and hurt Germany's ability to force austerity in other countries, such as Greece, Portugal, and Spain.
Reports out of Ireland today showed high jobless rates, and opponents are using this information to rally against the EU treaty.
iShares MSCI Ireland Capped Investable Market Index ETF (NYSE: EIRL) tracks equities in Ireland.
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