EirPocalypse Now: They’re Onto Us

at

From today’s editorial in the Guardian:

‘When financiers joked in 2008 that the only difference between bankrupt Iceland and hard-up Ireland was one letter and a few days, they got it wrong – the mess the Emerald Isle is now in is so much worse.’

Ouch.

‘…all the way down, Dublin ministers have promised voters that things are about to get better. Those emergency loans to the banks – that would sort it. These savage spending cuts – that would do the job. That decision to pretty much guarantee the entire banking system (with practically no questions asked) – this time for sure. Wrong, wrong, wrong. Like a body flung off the roof of a skyscraper, the Irish economy has just kept on falling.’

Ditto.

‘…being open for business at all costs does not work well for small countries with homogeneous economies. And it really does not work with dozy policymakers.’

Game over.