Wednesday, 5 January 2011

Morgan Kelly: If you thought the bank bailout was bad, wait until the mortgage defaults hit home


Looking Down The Barrel Of a Big Old Gun - IMF Comes To Ireland"Ireland faced a painful choice between imposing a resolution on banks that were too big to save or becoming insolvent, and, for whatever reason, chose the latter. Sovereign nations get to make policy choices, and we (Ireland) are no longer a sovereign nation in any meaningful sense of that term. From here on, for better or worse, we can only rely on the kindness of strangers."



Read the article at irishtimes.com