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Can Ireland Be Saved From An Economic Catastrophe?

By Sikander Hayat

Well to be honest this case is very interesting as Irish government does not want a bailout but EU ( especially Germany) is insisting that Ireland must ask for help before the contagion spreads to other Euro nations. It must be said that markets will once again burn their hands as they did in the case of Greece by betting that Greece will default and with it the Europe will go down the drain as well. To me, it is impossible that in the presence of Euro stabilisation fund and with IMF virtually backing any bailouts, Ireland will suffer a fate like Greece. Markets will once again lose a lot of money by betting against the Euro. This time around even rumours of a possible bailout of the Irish have calmed the markets right down.
In my view Ireland will be OK this time around, given the fact that they don't need any money for another 6 months anyway and also this should a lessen to any currency speculators who are planning to bet against the Euro to back off.


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4.Is Democracy Really Necessary for Economic & Social Progress? - China & Russia challenge the Conventional Wisdom
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