No light at end of the tunnel for Greece means dark clouds on Ireland's horizon

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http://www.irishtimes.com/newspaper/finance/2011/0528/1224297948773.html

ANALYSIS: Greek debt crisis seems to be spinning out of control, which carries grave risks for Ireland

AFTER ANOTHER week of agonising turmoil, the Greek debt emergency looks more and more like it is spinning out of control. Whether Europe’s leaders can avert disaster remains to be seen, but this increasingly volatile scene carries grave risks for Ireland.

Having lost the confidence of its EU-IMF bailout sponsors on top of a collapse in investor support, Greece faces an immediate financial crux and a longer-term one too in view of its mountainous debt. This threatens both the viability of its €110 billion rescue plan and of Europe’s no-default dogma, adopted in the aftermath of the Lehman Brothers tumult in 2008.

In the spotlight and off-stage are a host of international actors, whose political and financial interests vary widely. This makes resolution all the more difficult, as each has much to lose in the debacle.




i think i'm really afraid for greece & ireland.
i have to wonder what they will be like in the not too distant future.