Gillian Tett (who was in Dublin this week) writes on the Irish situation: Ireland has shown grit but must find a magic formula
Gillian Tett (who was in Dublin this week) writes on the Irish situation: Ireland has shown grit but must find a magic formula
3 replies on “Gillian Tett on Ireland”
Balanced article – Gillian is welcome around here.
Now – who are these american shorters?_Where’s me Dallas Cowboys Hat?
“Yet, instead of being rewarded by the markets, Ireland is now in the crosshairs.”
I note she carefully expresses no faux shock at this! In other words, it was always likely that this would be the result, as the government was seen to be stupidly stepping infront of a bullet meant for the banks! Naturally, the markets totted up the debts and came to 100,000,000,000 Euro, as I did, years ago on this blog, rounded up of course! It will be ten years at least but that will be the outcome and the market and anyone with sense, knows it.
She does a workmanlike job of discussing the issues. So, far more dangerous than most commentators!
Again, given the economic history of fiat currencies in past depressions, she does not say that the EZ welcomes the opportunity to devalue a little. Odd, given her obvious knowledge? The Dog that did not bark?
She says there is time to correct the market but says there are difficulties. How true! And a currency to depreciate!
@David O’Donnell – “Balanced article – Gillian is welcome around here.”
+1