Sunday 24 September 2017

When tyranny of the bond markets ruled

Donal O'Donovan looks back at how investors got spooked and what else led to the Troika's arrival

Buy 'n' sell: A stock market employee crunching the numbers
Buy 'n' sell: A stock market employee crunching the numbers
A man protests against the Troika
Donal O'Donovan

Donal O'Donovan

It just kept getting worse. That was the extraordinary thing about covering the financial markets in the autumn and winter of 2010, the way its relentlessness kept getting worse.

From the middle of September to the end of November "the markets" dramatically lost faith in Ireland.

They weren't just losing faith in Irish banks or businesses, or in Irish consumers. Investors looked at Ireland, both the State and at anything with a hint of Irishness about it, and they just said, "no thanks".

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