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.
A bond is not sacred. Equality before the law is sacred. So a default or partial default has to treat all bond-holders of the Irish state the same way. The strategy outlined here - let the wrong type of creditors bleed -can't work.
I mentioned the 100 billion owned by Irish banks to the ECB. That is not a hedgefund. Nor even really foreign. And the considerable sums that the Irish governments already put in the banks is a fact too.
I think that is offered here is a illusion. Bankruptcy without the pains of bankruptcy. Make the foreign evils pay.
The problem in Ireland is the neoliberal policy of the last irish governments, supported by a substantial part of the Irish voters. The mentality now - we will keep the mansion but shed the debt is not real helpful.
by Frank Schnittger - May 23 29 comments
by gmoke - May 19 5 comments
by redstar - May 12 18 comments
by redstar - May 14 16 comments
by redstar - May 6 50 comments
by Frank Schnittger - May 2329 comments
by gmoke - May 195 comments
by redstar - May 1416 comments
by redstar - May 1218 comments
by redstar - May 650 comments
by In Wales - May 31 comment
by Luis de Sousa - May 113 comments
by gmoke - Apr 292 comments
by talos - Apr 2949 comments
by ManfromMiddletown - Apr 245 comments