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Citigroup’s Saunders Says 50% Chance of PSI on Irish Debt

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March 5 (Bloomberg) -- Investors face a 50 percent chance of sharing in losses in Irish government debt, Citigroup Inc. economist Michael Saunders said.

“We still expect a sizeable growth undershoot and deficit overshoot, and expect that Ireland will need a second financing package, which may include PSI, beyond 2013,” Saunders said in a note today.

Ireland’s government will likely need to rely on the European Stability Mechanism after its current aid program ends, Moody’s Investors Service said today. Link to Company News:{C US <Equity> CN <GO>}

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net

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