” How Close To The Edge Are We To Falling Off “

As each eurozone country in turn finds that they are deeper in debt than they first believed, we hear today that the bailout for Greece has made them worse off. Maybe and it is only a suggestion we should leave well alone and maybe just maybe it will sort it self out.

As we know many things in this world always do, l was taught as a child ” Leave Well Alone” l never found out who well was but before l could someone else we call a dogooder interfered and all was undone -ah well.

Amplify’d from www.bbc.co.uk

The European Union’s economic affairs commissioner has said Europe must “resist alarmism” amid the latest fears over the Irish Republic’s debts.

He told ministers his country was working with European partners to deal with the debt issue.

He also reiterated that the Republic of Ireland had not asked for bail-out money and that the Irish economy was well funded until next year.

Mr Cowen tried to play down the growing sense of crisis across the eurozone, telling the Irish parliament that these were just a continuation of ongoing discussions it had been having with European institutions for some time.

Having spent the last 36 hours in Dublin I can report a sense of deep resentment at the pressure being put on the Irish government. Ministers genuinely believe they have a strategy that can work”

But he added: “We all have to work together in order to survive with the eurozone, because if we don’t survive with the eurozone we will not survive with the European Union.”

When Ireland explicitly guaranteed the Irish banking system just over two years ago, the finance minister, Brian Lenihan, said it was ‘the cheapest bank bailout in the world’. It is turning out to be very expensive”

Read more at www.bbc.co.uk


#bail-out, #banking, #eu, #eurozone, #ireland