Deutsche Bank Research: Irish patient has to swallow the bitter medicine of correcting past exuberance
Mar 12th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Deutsche Bank Research economist Sebastian Becker says the Irish patient has to swallow the bitter medicine of correcting past exuberance - - Irish sovereign bond and CDS spreads have surged as global credit crisis has delivered a major external shock to the Irish financial system. With the past boom in the real estate & banking sectors unwinding, Ireland is currently undergoing a painful economic adjustment process.