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Eurointelligence: Aftermath of a "surreal" summit
Karl Whelan on another gap for Ireland

In a very interesting post on the Irish economy blog, Karl Whelan calculated that the EU/IMF package is still some €11.5bn short and will not fund Ireland through the 2011-13 period. He asks that the political parties should address the issue of whether they are want to ask the EU/IMF for more funds, and in particular given some additional spending commitments on windmills and broadband systems, whether they want to ask for even larger loans to cover those commitments as well.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Carrie (migeru at eurotrib dot com) on Mon Feb 7th, 2011 at 04:52:19 AM EST
More from the same Eurointelligence article:
Wolfgang Münchau says EU is trying to solve the wrong crisis

In his FT column, Wolfgang Münchau argues that the competitiveness agreement is going to backfire in a big way. First, it does not constitute a solution to the current crisis, which is a banking crisis, first and foremost, which would require a commitment to force bank restructuring, which is still lacking. So whatever crisis Merkel's comprehensive crisis resolution package tries to resolve, it is not the current crisis. But if even you accept it as a long-term governance proposal, it is still not clear why harmonisation at the German level is necessary and desirable - nor likely to eradicate future imbalances. This is an unpleasantly hegemonial proposal, though which one country seeks to impose its economic order onto the rest. (Emphasis added.)

And no one will call Godwin on Münchau, I presume.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Feb 7th, 2011 at 01:58:02 PM EST
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