Enda Kenny was speaking in Brussels yesterday. He had some specific proposals to deal with the economic crisis.finegael.ie/news/index.cfm/type/details/nkey/36531
There are four quite separate ideas here. The chances of the Germans agreeing to a Europe-wide “bad bank” are zero (why would they take our bad debts? ).
Did FG call for Anglo to be used as a “bad bank”? That’s a very different proposal which would be at the expense of the Irish taxpayer.
The EIB has an important role to play but it is already taking action:
Getting the ECB to pursue an “anti-deflationary” strategy would require a complete reversal of the anti-inflation policy mandated in the Treaties. Maybe there’s time to amend the Lisbon Treaty!
Now I wonder who Enda is referring to when he complains about “‘beggar-thy-neighbour’ exchange rate adjustments”? I’m sure the Brits will appreciate Enda’s efforts to tie their hands.