Saturday 16 December 2017

Three sentences, but of great importance

The joint communique issued last night by Taoiseach Enda Kenny and Chancellor Angela Merkel was very brief -- only three sentences -- but it was one of the most important documents issued during the entire Irish and European debt and banking crisis.

It ended, or should end, once and for all the assumption that Chancellor Merkel had turned thumbs down on Ireland's case for a writedown of the banking debt assumed by the previous Irish government.

But last night's communique, issued after the Taoiseach and the Chancellor had spoken together yesterday afternoon, made it clear that this was not the case.

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