The IMF etc. are foisting on Ireland a bailout package that in the long run is not sustainable. Interest rates cannot be met and Ireland will default eventually after being sacrificed on the alter of saving the Euro along with German and French banks who lent recklessly in the first place.
The Euro will not be saved either and what will it have all been for? To save face in Europe? Some say that the EU is doomed if the Euro fails but I don't think that is the case and is scaremongering, but at the same time practical common sense should prevail and political dogma should not get in the way of practical economic reality. That is what is happening at the moment. A financial sticking plaster is being put in place over Ireland in the hope that it will heal. If the contagion spreads from Europe globally as has been predicted then the depression of the 1930s will look like a picnic in the park.
Jezus ... this bra is way too big for me !!
El-Erian: Ireland Is On The Verge Of A Horrible Bank Run That Will Devastate A Whole Generation
Edit National 4 year plan announced at 2pm today