Johnny Fallon: The Government deserves its moment in the sun but not all the clouds have gone away
TODAY was a rare day on the economic front when we awoke to some hopeful news for a change. The Eurozone deal struck in the early hours of this morning is a very welcome step.
For the first time it has been properly recognised that the levels of bank debt are unsustainable and the burden on countries like Ireland is too heavy. While austerity is not necessarily the foolish policy some believe, it cannot work if there is no hope of recovery. Countries like Ireland can provide much more if freed from at least some of this burden.
Enda Kenny and the government have taken a lot of flak about the failures at European level so it is only right that they should enjoy a moment in the sunshine today. They deserve credit for at least bringing home some kind of deal that offers a ray of hope for all our economic futures.