Cleverly regulated free market is the new grail
Late last week, following the decision to ban the short selling of Irish shares and amid stories of a takeover of Irish Nationwide by Anglo Irish Bank and of Bank of Ireland by Banco de Santander, markets rallied very strongly.
Unfortunately this week most gains have been given back and sentiment remains fragile. Tuesday was a truly horrendous day, with almost 6% wiped off the value of the market.
