Irish Bonds May Fall as Election Produces No Clear Winner
- Nation's bonds returned about 92 percent since 2011 election
- PM Enda Kenny may need to pursue a historic grand coalition
Political Change in Ireland Amid Recovering Economy
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Irish bonds may fall on Monday, as the nation faces into a period of political instability after Prime Minister Enda Kenny’s coalition lost its majority in a general election.
Kenny’s government suffered massive losses in Friday’s vote, leaving an unprecedented grand alliance with traditional rival Fianna Fail as the only prospect for stable government. Kenny and Fianna Fail’s leadership ruled out a coalition before the election, though both took a less definitive line once the inconclusive outcome became clear.