The Curse of Biffo

Bringing the Irish angle on the global credit crisis to a wider audience, today’s New York Times reports on the case of Structured Credit, a small Dublin based fund whose lending arrangements with various international banks are under severe strain due to continued requests for collateral and which is now in court-supervised restructuring.  And all seemed so well a few months ago –

In March, Structured Credit said as a “testament” to its “potential importance to the Irish economy” the minister for finance, Brian Cowen, had attended the opening of its offices on Fitzwilliam Square.

Hopefully not a metaphor for the overall economy.