Ireland’s banking system results will come in today, and they’re not expected to be good.
The truth is that the only feasible solution for the Irish is to leave the Eurozone, devalue the currency, and give large haircuts to the bondholders (aka German, French, British, Spanish and Dutch banks).
In a country with nearly 15% unemployment, coupled with ludicrous fiscal austerity, it’s just not possible to grow your way back to prosperity.
Gorilla says: “The Blarney Stone’s needs to move out of Frankfurt!”
