Swiss bonds move no problem

THE blacklisting of Irish bonds for use as collateral by the Swiss Central Bank “has no serious funding implications for Ireland, said Alan McQuaid, chief economist, Bloxham Stockbrokers.

It follows the rejection of Greek bonds by the same bank several months ago, but in practical terms it “has no consequences for funding of Irish debt in the current environment.”

It highlights the fall from grace of the Irish and probably does further damage to “the perception of the Irish abroad”.