Banking on Ireland
11.01.2010
In what was a tumultuous week for Ireland with its borrowing costs soaring to new records and talk of an EU bailout growing, Reuters delivered two key pieces of information fast and first. On Monday, Nov. 1, the high court ruled against a legal challenge to Ireland’s “bad bank” structure, set up to mop up the 10s of billions of euros of bad debt crippling Ireland’s financial system. If it had ruled in favour, Dublin’s whole economic rescue plan would have collapsed. We delivered the news to clients over two minutes ahead of both Bloomberg and Dow Jones. Two days later, by covering all bases, we were alone among financial news organisations in spotting Prime Minister Brian Cowen telling parliament what the latest unemployment figures were almost 30 minutes before they were officially released.
