Bank of Ireland and Barclays Brace for Eurozone Downturn
Posted on January 12, 2012 at 08:20 AM EST
The Paragon Report Provides Equity Research on The Bank of Ireland & Barclays PLC
NEW YORK, NY -- (Marketwire) -- 01/12/12 -- European Banking shares continue to trade close to 52-week lows as the Eurozone debt crisis has shown no signs of slowing in the New Year. Earlier this week Fitch Ratings warned that a number of euro countries could see their credit ratings downgraded by the end of this month as they struggle to cope with too much debt and slowing economic growth. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on The Bank of Ireland (NYSE: IRE) (LSE: BKIR) (Irish: BIR.IR) and Barclays PLC (NYSE: BCS) (LSE: BARC). Access to the full company reports can be found at:
In the United Kingdom, the UK Telegraph reports that analysts are highly critical of the Bank of England's handling of the Britain's banking sector and warned that Bank and Government policies have left major lenders vulnerable if the Eurozone debt crisis spreads to the UK.
Meanwhile in Ireland, the Telegraph recently reported that the Central Bank of Ireland wrote to chief executives at the Bank of Ireland, Irish Life & Permanent and EBS Building Society last month that it may hold an investigation into the Irish banking crisis. The UK Telegraph cites reports from Ireland, that the Central Bank will appoint an independent arbitrator -- likely to be a retired judge or a senior lawyer -- over the next few week to decide whether the executives should remain in their jobs.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Foreign Banking industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
The IMF's top economist said Friday that banks holding Greek debt could be forced to take larger writedowns than planned because of Athens' weaker-than-expected finances. The IMF is reportedly losing confidence that Greece's bailout can succeed, Der Spiegel said, said, citing an internal International Monetary Fund document that concludes the country needs either speedier fiscal reform, a bigger reduction on its debt, or another bailout. IMF experts plan to adjust key points of the current rescue plan as part of the next Troika mission, set to start in mid-January, the magazine said.
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