Monday 20 November 2017

We must end the uncertainty

FOR the past few months the markets have been speaking all too loudly about the prospects for the Irish economy. Missing from the debate has been a calm assertive voice from the Irish Government.

As the crisis reached a climax in the last few days, Taoiseach Brian Cowen stuck to the well-rehearsed line that no bailout was being sought. But there was no escaping the noise of the alarm bells ringing around Europe's capitals. The intense pressure to draw a line under our parlous economic prospects could not be more acute.

The crux of the problem is that our banking sector's crisis is having a crippling effect on our sovereign debt situation. In Madrid, nerves are on edge, as they are in Lisbon and even Rome. The contagion effect is driving their fears.

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