EU survival must be the priority
Published 20/06/2011 | 05:00
ARE we witnessing the end for the euro, or is it the end of the beginning in its battle for survival? There was something vaguely Churchillian in Michael Noonan's comments in Washington signalling we are closer to "war war," than "jaw jaw", regarding our relations with the European Central Bank.
Concerning selective burning of bond olders, Mr Noonan was articulating a truth that Frankfurt dare not speak.
We cannot afford to foot colossal payments for bonds that are trading at bargain basement rates on markets.