Merkel Condemns Irish Bankers for Damaging Democracy

Chancellor Angela Merkel forcefully condemned on Friday the conduct of Irish bankers who were caught on tape joking about a bailout deal and mocking Germany, saying their actions were an insult to working people and damaged democracy.

Transcripts of telephone conversations from 2008 between bankers at Anglo Irish Bank have caused outrage in Ireland and beyond in recent days.

In the tapes they made light of the Irish government’s decision at the height of the global financial crisis to guarantee their liabilities and talk about demanding “moolah” – slang for money – from the country’s central bank.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza