Rescue was easy - Ireland's future the real worry - The Globe and Mail

Rescue was easy - Ireland's future the real worry - The Globe and Mail: "And if there is a default, does the EU take a haircut? At what point will German, French and British taxpayers be told that their loans are almost certain to be converted in part and in due course into some sort of Irish equity, without dividends or voting rights. Already, revolt is brewing in sections of the right-wing British media over £300 per head for Ireland. Small wonder that people are talking of the end of Ireland as an indepedent nation. Its future can only be as a ward of the EU, its stunted economy micro-managed from Berlin. The alternative, which looks more palatable by the day, is the door marked exit. That will be hugely painful and costly but we are not there just yet."