Tuesday 24 April 2018

Brendan Keenan: We're not like the Greeks. . . and they're definitely not us

Our budgetary pain is our strongest card when it comes to Ireland raising money on bond markets. But if union demands prevail, we could be in peril

Brendan Keenan

Brendan Keenan

I HAVE to admire the Moscow-based investment manager who is buying Greek government bonds, both for his nerve and his robust language.

His thinking is that, what he called "those morons in Brussels and Berlin", will wake up to reality and rescue Greece.

Having bought Greek bonds so cheaply that their official interest rate meant an actual yield of up to 15 per cent, he can sell them at a huge profit when lenders will once again pay a price that gives much lower yields.

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