Thomas Molloy: We have no right to dictate the terms of our salvation
Published 12/11/2010 | 05:00
YOU know we are in some sort of endgame when Brian Lenihan and Patrick Honohan finally admit as much. Yesterday, as Irish bonds fell for the 13th straight day, the Finance Minister finally conceded that the recent surge in borrowing costs was "very serious".
Twenty-four hours earlier, the Central Bank governor had contributed to that surge by talking openly about what it would be like if the IMF were running the country.
Honohan's musings were so frank that the Department of Finance found itself forced to deny that the Central Bank was preparing the way for the IMF.