Brendan Keenan: Markets have decided that massive bailout won't work
Published 24/11/2010 | 05:00
Oops! It doesn't seem to be working. The Irish rescue programme has not even been formally approved, but already it is being dismissed by the markets, and eurozone interest rates are back to crisis levels. Europe may have to think again.
What it can think, or do, is anyone's guess. One worry for us is that we might get the blame. This would be unfair, but it is partly our own fault.
If ever there was a time for keeping the head down, this was it. Publish the plan, put the Budget through, have a spring election, stand back and say we've done our bit, and then take stock of the situation.