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AIB - S&P Downgrades Ireland

08/24/2010 07:25 PM by Dave Pinsen

S&P downgraded Ireland's credit rating on concerns about the costs of bailing out Ireland's banks ( http://www.marketwatch... ). That Market Watch article estimates the end cost of bailing out Ireland's banks at 58% of Ireland's GDP. Maybe Ireland will be tempted to save a few euros by nationalizing AIB, wiping out its equity holders, and making its bondholders take a haircut?

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