Kenny's tactics are vindicated
Finally, Europe and Ireland can see a future. It may have taken the weight of Italy, Spain, America and China, but in the end, faced with the collapse of a continent, the Old Lady of Berlin said 'Yes'. In truth, Ms Merkel had no other option, for it was becoming clear, especially in Berlin, that the current Sisyphean economic strategy was poised to cast Europe into its worst social and economic crisis since the Weimar and Cold War eras.
There is still much devil to be deciphered from the details of this summit but, like our equally torturous Appeasement Process, Europe is a place where outwardly obscure statements of principle have real consequences. Of course, as Michael Noonan correctly intimated, a hard road still lies ahead. But a real qualitative difference exists between the current necessary iron age of austerity and the thoughtless nihilism of the dishonourable attempt to force the taxpayers of a continent to sign off on the gambling debts of an unaccountable oligarchy of bankers.
Domestically, this result provides us with a comprehensive vindication of the Government's cautious approach to this gathering crisis. Time will tell whether the Taoiseach and the Tanaiste have over-egged the pudding in claiming that the deal is a gamechanger, where "what was deemed to be unachievable has now become a reality''. But it should be recognised that Ireland has secured critical benefits from its designated role as the poster boy of the European response to the consequences of the thoughtless excesses that brought us to the current age of "we are where we are".