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Topic - David Watts
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"The announcement of aid for Ireland does not change the fact that Portugal and Spain both have high budget deficits, heavily leveraged private sectors and poor prospects for economic growth," said David Watts, an analyst at CreditSights, citing the combination of factors that led to Greece's and Ireland's economic crisis.
Mr. Watts said investors remain concerned especially about the EU's plans to force investors in an insolvent country's debt to take losses as a condition of future bailouts under the EU's permanent rescue facility to be set up in 2013.