Financial Times FT.com

Ireland is wrong to put its miracle at risk

By Wolfgang Münchau

Published: June 22 2008 19:21 | Last updated: June 22 2008 19:21

After a week of what European leaders call reflection, another Irish referendum beckons, to be held early next year. Without it, there might well be an attempt to oust the Irish from the European Union.

A Yes vote in a second referendum is not certain, even if the Irish government were to succeed in securing another rent-extracting, treaty-amending protocol. At a time when the Irish economy is about to fall off a cliff, enthusiasm for the EU and its treaties will not increase. In other words, holding a referendum would be as risky as not holding a referendum. A fine mess.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this