Much of the exceptional government financial support for bank restructuring arises this year, and followers of budgetary statistics will see a sizable step jump in Irish government debt, and a sharp transient spike in government borrowing in 2010. Interested market participants are being kept well aware of this, and publication of the exact numbers should not come as a surprise.
These include the strains in short-term funding markets, and the second destabilizing run on prime money market mutual funds in roughly a decade, which required significant public intervention to address.