Monday 20 February 2017

Seven days that will tell our future

This week will tell us if we're facing the meltdown of the Eurozone, says Daniel McConnell

Published 17/07/2011 | 05:00

WITHOUT un-derstating matters, the next seven days will be the most crucial of Enda Kenny's term as Taoiseach so far. What is also clear: the last seven days have been among the most turbulent since the financial crisis began two years ago.

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Since last weekend, we have had an emergency meeting of finance ministers last Monday; a Moody's downgrade of Ireland which seemed to flummox everybody; record-high Irish borrowing rates of 14 per cent; the IMF/EU/ECB Troika then giving Ireland full marks for taking our pain without complaining; a debt crisis in Italy; dubious bank stress tests and now the calling of an emergency heads of state meeting next Thursday.

This is meltdown, EU-style.

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