We must end the uncertainty
Published 17/11/2010 | 05:00
FOR the past few months the markets have been speaking all too loudly about the prospects for the Irish economy. Missing from the debate has been a calm assertive voice from the Irish Government.
As the crisis reached a climax in the last few days, Taoiseach Brian Cowen stuck to the well-rehearsed line that no bailout was being sought. But there was no escaping the noise of the alarm bells ringing around Europe's capitals. The intense pressure to draw a line under our parlous economic prospects could not be more acute.
The crux of the problem is that our banking sector's crisis is having a crippling effect on our sovereign debt situation. In Madrid, nerves are on edge, as they are in Lisbon and even Rome. The contagion effect is driving their fears.