It comes as a Government Adviser has warned former Alan Ahearne double-dip recession in the euro area is now looming in 2012 because of a “toxic cocktail” in the sense of political policy at European level.
In an interview with this newspaper, financial expert-turned-independent TD for Wicklow Stephen Donnelly has said that Ireland sunk in debt and that Europe now has to come to save us or we should threaten to default on the debt of our banking.
Mr Donnelly is a growing number of economists, commentators and senior politicians who believe there is no choice but to default on the debt of our banking.