The Irish people expected to pay in austerity cuts for their banks' sins have another option. Reject the ECB and IMF, ditch the euro”And the Aussies have noticed:
EUROPE'S single-currency trial is looking more and more like an error.The simple answer? No
AS Europe's money men bail out Ireland to the tune of about E80 billion ($110bn), the next key question concerns the European Union's failing currency: can it survive in its present form?
But Ireland's woes threaten not only the euro - the grandest of the EU's grand projects - but the EU itself. The kind of rhetoric normally reserved for hardened Eurosceptics has found its way to the heart of the European mainstream and its seat of power in Brussels,Good. And the Irish bail-out saga is not quite going to plan either:
The latest is that Ireland's government is on the brink of collapse. The Green party, a junior partner in the current Irish coalition, called for a General Election. The prospect of an election is likely to undo the short-lived stability the markets demonstrated on this morning, we are told.hattip for Guardian article: Douglas Carswell