Hedge Funds Ireland Debt
Irish Paper Accuses Hedge Funds of Betting Against It
Hedge funds have faced a lot of criticism for its supposed role in the collapse of Greece. Now, as Ireland’s economy struggles, accusations have emerged in at least one Irish newspaper that hedge funds have been shorting Ireland’s debt.
You know a country is really feeling the hit, when its media starts printing the name of investors who are believed to bet betting against it.
The Irish Independent declares that hedge funds are shorting the country’s debt:
US hedge funds Groveland Capital and Corrientes Advisors are thought to have taken major positions against Irish debt. Giant €60bn asset-manager Pictet also revealed that it had earlier bet against Irish government bonds. JP Morgan is also thought to have taken a bearish position on Irish debt.
No word on who “thought” these funds were making these bets, or whether their impact is at all real.
Elsewhere, Finance Minister Brian Lenihan is talking about a “remarkable turnaround” in the economy. Surely. Source
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