Karl is quoted here as saying that the Franco-German proposal that we insert borrowing limits into the Irish constitution will not solve our current debt problems. This is obviously correct, as is the point that such an amendment would not have made a blind bit of difference during the bubble years.
There is also the point that a constitutional amendment is a much bigger deal in Ireland than in some other countries, since it can only be changed by means of a new referendum.
Here are two questions:
As per Derek Scally in the Irish Times, is this a taste of things to come, or much ado about nothing?
What are the chances of the Irish government winning such a referendum?