March 9, 2009
JP Morgan backs Ireland
Story link: JP Morgan backs Ireland
Ireland must be showing its signs of strength and weakness, of course one more than the other. Investors are now banking and in fact hoping, that Ireland defaults on its debts and that their investments pan out!
One of the biggest Wall Street banks has warned investors not to bet on Ireland defaulting on its debt, as its financial position remains “remarkably strong” despite the banking crisis and economic downturn.
JP Morgan bond analysts pointed out in a note to clients this week, that many other eurozone countries “have significantly worse public sector debt to gross domestic product (GDP) ratios”.