Bullish Bankers

What Happened to the Luck of the Irish?

Having made it this far through the crisis, default on the debt is slightly less likely than it was a few months ago. The fact that the government didn't totally take over Allied Irish Bank when it had the chance too speaks volumes about the current situation.


On May 03 12:22 PM Screwloose wrote:

> It will take a lot more than hard work and luck to rescue Ireland
> - and you don't know what "hard work" means until you've seen Connemara
> men.
>
> Ireland is an awful warning of the consequences of organized crime,
> militarily armed in this case, infiltrating banks, commerce and governments.
>
>
> In a country where truth and blarney have always been interchangable;
> the reality was wished away for far too long. Now; trapped in the
> Euro, the normal massive devaluation isn't possible and the state
> hasn't even a tiny fraction of the bail-out, or debt guarantee, resources
> that would be required.
>
> Default may be the only option left.