Article for Eolas Magazine
This post was written by John McHale
Here is a short article on crisis resolution strategies that I wrote for Eolas magazine. It was written before the debate over Morgan Kelly’s new resolution proposals. The piece contrasts a Plan A — involving a phased fiscal and banking adjustment, offiical assistance to cover funding shortfalls, and absorption of significant banking losses — with a Plan B that has an earlier focus on debt reduction. Morgan’s proposals – a Plan C? – combine immediate elimination of the borrowing requirement with eschewal of both official assistance and responsibility for bank losses.