Opinion Brendan Keenan

Wednesday 24 January 2018

Brendan Keenan: Danger lurks until question of who bears losses is solved

IT'S not a good idea to be the first. Pioneers in everything from aviation to radioactivity learnt lessons the hard way -- often the terminal way.

Ireland was the pioneer in having a banking crisis in a single currency. The lessons were certainly hard, and almost terminal, but they are still being learned. The eurozone is a slow learner, not least because the answers are unpalatable to everyone.

The recent EU summit and this week's meeting of finance ministers did advance things somewhat. The difficulty is that no one is entirely clear how far.

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