Another Irsih Economic Crisis

Along with Portugal, Italy, Greece and Spain Ireland is one of the Eurozone countries left most exposed to the global economic crisis. Despite a program of robust austerity measures a recent flurry of bond selling has pushed Ireland's borrowing costs to an all time high. In turn this has created a very real if slightly overstated risk that the Irish government will soon run out of money. Having learnt the lessons from the Greek crisis the European Union (EU) has prepared a very reasonable economic bailout package. The only problem is that Ireland are stubbornly refusing to accept that package.

Part of the reason for this is good old fashioned pride. The main reason though is that Britain has warned Ireland that the bailout could further damage the Irish economy by forcing it to raise it's very low corporate tax rate to parity with other Eurozone Countries. Sadly Ireland appears to have believed them without realising that Britain is aggressively pursuing an anti-Euro agenda in order to further it's own economic and political objectives. By refusing the bailout Ireland is causing fears to grow over the debts of other Eurozone Countries which is undermining the value of the Euro to the point that the single European currency that the Conservatives despise so much may actually collapse destroying the economies of the countries that use it. There is even a rumour that Britain has actually been behind some of the bond selling that has caused interests rates to spike.