Tuesday 17 October 2017

Euro: wait for it

• The outpouring of joy, relief and triumphalism emanating from the Government arising from the latest meeting of EU heads of state may be somewhat premature.

A cursory glance at the eurozone summit statement shows that "the possibility of direct aid to banks in the euro area" is completely dependent on the establishment of a eurozone banking authority and a memorandum of understanding being signed to cover all the usual conditions for the granting of such assistance.

The special mention of Ireland being examined "with a view to further improving the sustainability of the well-performing adjustment programme" is somewhat diluted by the statement that "similar cases will be treated equally".

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Independent.ie Comments Facility

INM has taken the decision to remove the commenting facility on its online platform Independent.ie to minimise the legal risk to our business that arises from Ireland's draconian libel awards system.

We continue to look forward to receiving comments through direct email contact or via social media, some of which may still be featured on the website Independent.ie


Don't Miss