Saturday, February 26, 2011

Irish 2011 Elections And The Winner Is...

No one knows yet... They are still counting.  Do they hand count these things?  An exit poll was released though last night and shows Fine Gael and Labour together having enough of a majority to push back on the IMF and ECB bailout.  Both parties have already vowed to work towards senior bondholders taking a haircut.  Senior bondholders include to a very large extent German and French banks which means these bailouts of any PIIGS nation is a bailout of the German and French banks.  I'm working from memory here but I think Ireland exposure alone is north of 100 billion euros.

The Irish  Times released the following poll results last night.

According to the poll, Fine Gael is on 36.1 per cent, Labour is on 20.5 per cent, Fianna Fáil has slumped to 15.1 per cent, Sinn Féin is on 10.1 per cent, the Green Party were on 2.7 per cent and Independents and Others were on 15.5 per cent. The poll of 3,500 voters was carried out yesterday. The margin of error was 2.5 per cent.


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