In Rare Agreement with Krugman

News on Ireland is pouring in so fast from all corners it is a struggle keeping up with it.

In a Memo to Ireland, Mike Whitney says, “Tell the EU and IMF to Shove It!” and on that score I agree 100% having said the same thing quite some time ago.

Some articles suggest the bailout rate will be 6.7%, other stories deny that. Finally, I find myself in rare agreement with Paul Krugman.

Irish citizens cannot afford to rescue German, UK, and French banks stupid enough to bet on bubbles in Ireland. It should be the creditors’ problem not the problem of Irish citizens.

via Mish’s Global Economic Trend Analysis: In Rare Agreement with Krugman; Onerous “Bailout” Rates of 6.7% Denied; Don’t do Stupid Things; “Tell the EU and IMF to Shove It!”.

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