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

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

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