The FT devotes its Analysis page today to a profile of the Irish economy. Overall, it is a fair and balanced overview of the current situation. You can read it here.
The FT devotes its Analysis page today to a profile of the Irish economy. Overall, it is a fair and balanced overview of the current situation. You can read it here.
2 replies on “Things Fall Apart: FT on the Irish Economy”
Apparently the government is going to appoint an assessor to decide how much Anglo is “really” worth.Obviously this expert will know better than the market. Presumably he will value it above the market price.
On a loosely related note, given the apparent difficulty of predicting key economic indicators I wonder is it possible to establish information markets to this end? Perhaps somebody could open a book on just how far house prices will fall for example?
Since Anglo is economically insolvent the stock are worth zero. The financial statements do not show this because they are primarily historic cost-based. If one assessed the current fair value of the assets this would be less then the liabilities, so they are insolvent. The stock is worth worthless.
Will be interesting to see whis one of the banks will be next to go.