The Big Picture

We have to close our budget fiscal deficit to about 3% of GDP at worst and live within our means by raising taxes and cutting expenditure across the board closing gfthe gap between rich and poor as a priority. This is national war. Next we have to try to sell as much of the NAMA property as we can. The we have to arrange an interest rate of 0.1% pa for our Eurodebt or organise a restructuring of our debt amounting to a partial default. The ECB is here to save the Euro and reduce pressure on German, French and UK banks who own Irish bank debt. If we are left with nothing then it is bye-bye euro.