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I presume this is some sort of attempt at building a negotiating position - some sort of credible fallback for if the others push too hard and force Ireland to walk away.

It's possible at this stage that the Irish government - who yesterday announced no income tax increases will be in the next  budget (which is a good thing in the context of the depths of a recession/depression) - realizes the insanity of the situation and is looking for a way out, either by  negotiation or force.

by Colman (colman at eurotrib.com) on Fri Jun 17th, 2011 at 06:17:18 AM EST

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