This is an update to today's weekly on Ireland and Portugal. Olli Rehn, the European Economics Commissioner has just confirmed my months' long forecast on how the Irish and Portuguese bailouts would proceed: with an OMT-style exit mechanism and loan extensions.
The Wall Street Journal's Matina Stevis reports:
Ireland and Portugal could apply to the European Central Bank's bond-buying program to facilitate their full return to the financial market while exiting their bailout program, European Economics Commissioner Olli Rehn said Tuesday.
Mr. Rehn's comments are the latest sign of support from the European Union for Ireland and Portugal as the two countries examine a range of options to lower the cost of their debt financing while preparing to re-enter international bond markets. On Mo...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.