Last weekend Ireland and its neighbors put together what has been widely described as a "bailout." But what really happened was that the Irish government promised to impose even more pain, in return for a credit line -- a credit line that would presumably give Ireland more time to, um, restore confidence. Markets, understandably, were not impressed: interest rates on Irish bonds have risen even further. |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.