EU heavies head to Dublin to Slash last Shred of Sovereignty

The following are the concluding paragraphs to the statement issued last night by the Ecofin Eurogroup:

We welcome the determination of the Irish government to engage in a short and focused consultation with the commission, the ECB and the IMF in order to determine the best way to provide any necessary support to address market risks, especially as regard the banking sector, in the context of the four-year budgetary plan and the upcoming budget.

We confirm that we will take determined and co-ordinated action to safeguard the financial stability of the euro area, if needed, and that we have the means available to do so.