Iceland got downgraded by S&P with a negative outlook. It is barely hanging on to investment grade although it is hard to say what that means or what it is worth.
Ireland has further banking problems with the announcement of the funding requirements of the National Asset Management Agency for buying bad loans from banks. The agency may have to buy loans with book values of up to 80 billion euros.
The new Greek bonds are trading poorly in the aftermarket.
Iceland and Ireland are classic banking crisis problems while Greece is a structural debt problem with the government. The structural problems actually may be harder to solve in the long-run.
Ireland has further banking problems with the announcement of the funding requirements of the National Asset Management Agency for buying bad loans from banks. The agency may have to buy loans with book values of up to 80 billion euros.
The new Greek bonds are trading poorly in the aftermarket.
Iceland and Ireland are classic banking crisis problems while Greece is a structural debt problem with the government. The structural problems actually may be harder to solve in the long-run.
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