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Belfast Telegraph – Finance Minister Brian Lenihan is asking Libertas leader Declan Ganley to confirm that his financial backers are not betting against Ireland on the international markets.
Reports over the weekend named a hedge fund as being one of the Mr Ganley’s backers.
Mr Lenihan says a ‘no’ vote would damage international confidence in Ireland and it is important to know that those behind Libertas won’t benefit from this.
guardian.co.uk – Sterling fell against the dollar to near a two-week low on Monday after a collapse of support for the UK’s ruling Labour Party in the European election raised the chances of further challenges to Prime Minister Gordon Brown.
Despite its losses against the dollar, the pound rose against the euro, as the single European currency came under broad selling pressure after Standard & Poor’s cut its sovereign rating on Ireland for the second time in three months.
Analysts said Labour’s drubbing in weekend European elections added to the uncertainty surrounding the political future of Britain’s embattled prime minister, who reshuffled his Cabinet on Friday after six of the party’s ministers quit.
Reuters – The Madoff scandal could be a boon for mutual funds as investors shift into regulated asset management vehicles in Luxembourg or Ireland away from hedge funds in the Caymans, a German mutual funds executive said.
"There’ll be a drive clearly toward more transparency and stricter supervision. That could be good for mutual funds," Stephan Kunze, head of Europe at Deutsche Bank’s mutual funds arm DWS, told Reuters in an interview.
"A lot of strategies that have been set up in the Caymans will migrate to Luxembourg or Ireland-domiciled replicas (with) hedge fund strategies migrating onto mutual fund platforms," he said, speaking on the sidelines of DWS’s annual news conference.
