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Anglo Irish Bank burden-share scheme could trigger CDS

|Includes: AGCPF, AGIBY, Allied Irish Banks, P.L.C. ADR (AIBYY), EIRL, IRE, IRL

 
Talk of a potential burden-share scheme between the Ireland government and Anglo Irish Bank's subordinated debtholders being looked by Irish Finance Minister Brian Lenihan could trigger a credit event and allow CDS buyers to finally cash in on their protection.

Disclosure: long all stocks