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Irish Examiner: Minister: No EU `yes' vote without debt deal
Junior Finance Minister Brian Hayes insisted the country would need a "significant reduction" in its debt burden before voters would endorse the new EU fiscal union in any poll.

"The idea that we could have a referendum without that agreement, on a substantial rearranging of our debt, wouldn't fly," he said.

"We would have to have that in place before we put the question, and that's beginning to be understood at an EU level, which puts us in a stronger position.

Talking up one's position like that might not be wise so early in the game. And back in 2008 when Ireland issued their blanket guarantee the first thing they did was go on British radio to advertise that their banks were safer for depositors. Also not a wise move.

Meantime: @economistmeg

MT @djfxtrader: Pact Will Enter Into Force When 9 Of 17 Euro Zone Countries OK It - EU Officials Tell DJ-WSJ >> Who agreed to this??



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Mon Dec 19th, 2011 at 05:53:57 AM EST
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