In my post yesterday I warned that highly indebted countries on the European periphery would find it more difficult to raise money if new plans for restructuring went ahead.
Before the scheme is implemented, just on the announcement of what the Germans wanted, Irish debt became nearly a quarter of a percent more expensive. The Irish now pay more than 7% whereas the Germans pay 2.5%. Just yesterday's rise - as I say, while it is still a vague announcement - meant around another €1.50 a week per family in debt service.
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