John Bruton: If we want to fix this mess we must pay ourselves less
Published 09/08/2011 | 05:00
THE euro is playing the starring role this week in a global loss of confidence in bonds issued by governments, although the average government deficit and debt situation in euro-area countries is actually no worse than that in the United States, the United Kingdom and Japan.
The euro area is the target because it is easier for speculators to pick off euro-area countries one by one.
But this is not the root problem.