So we have another euro crisis. It’s different though. Back in the spring Greece asked for help in February but electoral considerations in Germany and the UK stopped anything happening till May. Now Ireland is in trouble and the EU, and Germany in particular, is trying to force help on the country, but for Irish electoral reasons the government is unwilling to accept it.
Another difference is the apparent absence of the dreaded ratings agencies, whose contribution to the spring crisis consisted mainly in throwing petrol onto any fire they could get near. What has happened? Have their banking friends made enough money out of trying to ruin economies or have they been effectively sat upon?
Forges, El País 2 May 2010
Goya, The Third of May 1808
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