Leaders from the European Union countries France, Germany, Spain, Italy and the U.K. issued a statement today explaining how proposals being considered there regarding debt would not apply to current instruments.
The statement was intended to quell worries by holders of Irish government bonds that their holdings would be required to take writedowns under the proposal.
Irelandís finance ministers praised the statement today.
Keep an eye on the iShares MSCI Ireland Capped Investable Market Index Fund (AMEX:EIRL) today.
Top stock CRH (NYSE:CRH) trades in New York as well as overseas, and its 22.69% of the fund. Bank of Ireland (IRE) is the third largest stock in the fund, at 6.36% of the portfolio, and pharma company Elan (ELN) is the fourth-largest holding, at 5.14% of the fund.
Discount airline Ryanair (NASDAQ:RYAAY) is 4.42% of the portfolio.
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