Brian Cowen - Another Awkward Moment

Video - Anglo Irish Bank godfather Brian Cowen is a buffoon...

Comments

[DailyBail]

Irish Banks Face Downsizing

As part of Ireland's historic bailout, the country's banking sector is heading for a dramatic downsizing that will likely see a wave of asset sales and other moves meant to retrench the industry to its core function of serving the local market.

The Irish banks strayed far from their domestic mission during the now-collapsed real-estate boom, funding lavish commercial-property ventures and home loans abroad. Now, the banks could see a variety of their far-flung operations on the chopping block, according to government and industry officials.

http://online.wsj.com/article/SB10001424052748704243904575630641660021192.html?mod=WSJ_newsreel_business

[DailyBail]

Ireland’s bid for financial aid yesterday prompted Prime Minister Brian Cowen to call elections after support for his government unraveled.

Cowen made the announcement late today hours after the Green Party said it would pull out of his coalition. He said the vote will come early next year after passage of a 2011 budget.

The euro fell and Irish bonds pared their advance after Moody’s Investors Service said a “ multi-notch” downgrade in Ireland’s Aa2 credit rating was “most likely” because the aid would increase the country’s debt burden.

http://www.bloomberg.com/news/2010-11-22/ireland-s-bid-for-financial-aid-prompts-moody-s-warning-election-threat.html