Read this:


Ireland's Debt Servitude
Ambrose Evans-Pritchard. The Telegraph. 30 November 2010.


Having done so, please watch this:




My comment: It has become increasingly clear that the fate of the Euro project will be decided in the next few months. Even the Union's strongest defenders (much less its elected and appointed officials!) admit that if the current crisis is not quickly resolved the Euro may fall. All eyes now turn to Iberia, but my heart goes out to all of the citizens of the dozen countries that make up the EU. They are faced with two futures, both unpalatable and grim. If the Euro fails and the EU implodes then a deepening recession would be inevitable; if the Eurozone manages to survive then Europeans can look forward to nothing more but the loss of yet more freedoms to faceless EU bureaucrats and bankers.

FURTHER READING

The Euro Crisis: A contagious Irish disease?

The Economist. 25 November 2010.

EU to Ireland: Do You Want Your Pensions or Your Banks?
P.O. Niell. A Fitsfull of Euros. 29 November 2010.

First Greece, Then Ireland: Europe's Debt Problem has Gone From Bad to Worse
Phil Adrick. The Telegraph. 27 November 2010. 

This entry was posted on 01 December, 2010 at 9:26 AM and is filed under , , . You can follow any responses to this entry through the comments feed .

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