The Conservative Cave

Current Events => Economics => Topic started by: bijou on November 23, 2010, 07:07:11 AM

Title: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: bijou on November 23, 2010, 07:07:11 AM: Quote
Consider first today's national newspaper headlines: â‚¬90bn Irish bailout ends in turmoil (The Guardian), Fear stalks the eurozone as Ireland faces ruin (The Times), British banks hit as Irish bail-out falters (Daily Telegraph), A political storm breaks over Ireland (The Independent), and Britain pays out as Ireland implodes (Daily Mail).

I cannot remember a previous occasion in which the country has featured for weeks in front page headlines (and that includes the years of the troubles in the north).

Being at the heart of an international financial crisis has opened Ireland up to scrutiny by British papers as never before.

It has been painful to read some of the reports, such as The Observer's piece on Sunday, From defiance to capitulation: six days that humbled Ireland and The Independent's Ghost estates and broken lives: the human cost of the Irish crash.

Painful for me because I live half the year in the Republic and have witnessed at first hand the results of the Celtic tiger turning into a mouse.

Even so, when I left Donegal for England in September, I did not foresee the current crisis. I imagined, like many others, that the prime minister, Brian Cowen, had adopted a sensible, if painful, strategy to avoid catastrophe. ...
http://www.guardian.co.uk/media/greenslade/2010/nov/23/national-newspapers-ireland
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: true_blood on November 23, 2010, 01:20:15 PM: I heard Ireland was having trouble getting this bailout "approved".
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: bijou on November 23, 2010, 01:35:04 PM: Quote from: true_blood on November 23, 2010, 01:20:15 PM
I heard Ireland was having trouble getting this bailout "approved".

It's not a done deal yet and whatever the outcome it will almost certainly bring down the governement. It may also be the beginning of the end of the euro as Spain is likely to be the next bailout candidate.

http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2010/nov/23/ireland
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: true_blood on November 23, 2010, 02:58:41 PM: What a mess. After Spain, then who? Portugal?
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: bijou on November 23, 2010, 03:07:24 PM: Quote from: true_blood on November 23, 2010, 02:58:41 PM
What a mess. After Spain, then who? Portugal?
Actually probably Portugal will be first, it is such a basket case. Spain is a much bigger economy and will be a real test for the Eurozone, I suppose I was factoring in Portugal forgetting it had not already happened.
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: Wretched Excess on November 23, 2010, 03:37:23 PM: headline scream on reuters.com: EU/IMF will offer â‚¬85 billion to recapitalize Irish banks and fund public finances: report
Title: Re: Was it for this? Ireland's premier paper dares to tell it as it is
Post by: true_blood on November 23, 2010, 08:04:39 PM: I saw that the people of Ireland are not happy with this bailout.