Chillingworth tackles the Irish bail-out

European officials have hammered out the details of the Irish bail-out, worth €85bn (adjusted for the Irish contribution from the National Pension Fund, the contribution from external sources is 43% of GDP). The fate of the Bank of Ireland and Allied Irish Banks is sealed in the form of nationalisation. It’s a bitter pill for many in Ireland, who feel as though they are handing over the keys to their country. For the rest of us, it’s a desperate attempt to save the euro at any cost. Ireland’s economy, once dubbed the ‘Celtic Tiger’, has lost its ‘roar’ to plummeting house prices; risi...