The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
If the UK etc didn't practice due diligence in assessing the creditworthiness of the Irish government when there were obviously questionable deals happening - and no one sane is going to argue that taking on the private debt was a necessity - the foreign banks shouldn't be surprised by a haircut.
Of course they were loan sharking and profiteering. So sympathy will be in short supply.
Internationally, they can't do much to a sovereign state except kick Ireland out of the Euro - which will be threatened, but isn't likely in practice - and refuses to lend in future.
As Jake says, their idea of future times out after 18 months or so, as Argentina, Russia, Iceland and others have proven already.
by Frank Schnittger - Sep 17 93 comments
by epochepoque - Sep 4 8 comments
by gmoke - Sep 11 2 comments
by Helen - Sep 6 66 comments
by Frank Schnittger - Sep 2 19 comments
by gmoke - Sep 25
by Frank Schnittger - Sep 1793 comments
by gmoke - Sep 112 comments
by Helen - Sep 666 comments
by epochepoque - Sep 48 comments
by Frank Schnittger - Sep 219 comments
by Frank Schnittger - Aug 3050 comments