The Irish pledge on Tuesday to guarantee the country’s banking system triggered a flood of cash from businesses to Irish banks, a senior Irish stockbroker said.
More good news for Gordon as early evidence suggests that British businesses and savers are hotfooting it across the Irish sea to lodge their hard earned in Irish Banks. Time will tell, but by taking this huge risk Ireland may have safeguarded it’s banks short-term future and, at the same time, dealt a fatal blow to the British banking system and the pound.
This thought will bring a smile to a lot of Irish eyes. Read the rest of this entry »
In These New Times 