Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
In September 2010 the last big chunk of money the Irish banks owed the bondholders, 26 billion euros, came due. Once the bondholders were paid off in full, a window of opportunity for the Irish government closed. A default of the banks now would be a default not to private investors but a bill presented directly to European governments.


Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Mon Feb 7th, 2011 at 01:38:21 PM EST

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