Financial Times: Enda Kenny’s “Useless Compromise… Crucifying the Irish for the sins of their banks”


Via Politics.ieFinancial Times EditorialIreland’s winter of discontent:

Enda Kenny, Fine Gael’s leader and presumptive taoiseach, claims he will renegotiate the deal. The likely outcome is a face-saving but useless compromise: in return for a lower interest rate, Mr Kenny will stand by his predecessors’ suicidal conflation of bank and sovereign debt. The Irish tragedy will come full circle – but a new act will open in Europe’s drama. Crucifying the Irish for the sins of their banks will not bring redemption, but more strain on sovereign debt. That is a greater threat to Europe’s banks than is applying capitalism to senior creditors – all the more so when imminent stress tests offer a chance to separate healthy banks from sick ones.

Read more.

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This entry was posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, Elections, EU, Housing Bubble, Ideology, ireland, Solutions and tagged , , . Bookmark the permalink.

2 Responses to Financial Times: Enda Kenny’s “Useless Compromise… Crucifying the Irish for the sins of their banks”

  1. Pingback: Does Kenny Have the Cojones? (3) “No” | rebel-alliance.org

  2. Pingback: Bring Out The Gimps | rebel-alliance.org

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