InTrade-TradeSportss country is on the brink of insolvency.

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Irish government faces growing fears of debt default.

Fears are growing that Ireland could default on its national debt after the cost to insure against possible losses on loans to the country rose to record highs at the end of last week.

Credit ratings agency Moody&#8217-s recently followed rival Standard &amp- Poor&#8217-s in warning it might downgrade Irish debt, amid fears that one of Europe&#8217-s former success stories is falling into a deepening recession. […]

Ireland last week announced an additional €7bn (?6.3bn) injection into its top banks, Bank of Ireland and Allied Irish Banks, which are suffering from an increase in bad loans.

BetFairs Mark Davies, the last man standing

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Andrew Black:

Most of the original [BetFair] team have moved on now. Ed Wray is now Chairman, Mark Davies is still there and I’m still on the board and going in from time to time – I have three [BetFair] days this coming week but it’s normally much less than that. The other four members of the foundation team (such as it was) have moved on, but I’m in regular touch with all of them.

Two of them work full time for charities. One isn’t working at all at the moment. John, who had his 40th on Saturday, tried working in a couple of startups after Betfair, but after a fair bit of soul searching he recently decided to become a maths teacher. I had a chat with him about it.

He said that Betfair had been an amazing experience, but it had ruined him for anything else in business. Other ventures had been disappointing by comparison and just weren’t satisfying, so he had moved on to the next stage in life – giving it back.

He was very happy and very positive, just as he was during all the years I worked with him. The early years of Betfair were tough and very stressful, but it was exhilirating and also great fun at times.