THE eurozone crisis has finally struck at the engine room of Europe. Europe's paymaster, Germany, failed to complete a key bond sale after lenders were unwilling to stump up for more than a third of its 10-year bonds.
While the drama unfolded, European Commission president Jose Manuel Barroso warned that the euro itself is now in real danger without stronger governance.
The latest developments, with a deepening rift between Germany and France over the European Central Bank's role, raised fears that contagion was taking hold.
Irish people are rightly worried about the state of the eurozone and how it will affect us in our daily lives.
Europe has so far failed to take control of the debacle with rising borrowing costs and concerns the whole project will plunge into a downward spiral. Ireland may be a minor player in the eurozone crisis but our Government needs to explain exactly what the implications for its citizens are.