Ireland’s debt drama threatens to spill on to euro zone stage
ARTHUR BEESLEY ANALYSIS:�Intervention by key EU states proves Irish crisis is an issue for the entire single currency area THE GOVERNMENT’S problems intensified radically this week as investors questioned whether Taoiseach Brian Cowen and his battle-bruised Ministers will be able to extract Euro6 billion from next year’s budget and settle the banks. A nerve wracking local drama it may be, with appalling consequences for taxpayers, but it is more than that. The onslaught presents a host of tricky dilemmas for the EU authorities. Tension on the markets reached fever pitch on Thursday as Irish borrowing rates climbed above 9 per cent for 10-year money, a ruinous rate that is more than three…
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Ireland’s debt drama threatens to spill on to euro zone stage
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