Bail Out of Ireland failed!

Money continued to bleed from Ireland in December, a column by Ambrose Evans-Pritchard reports in the Daily Telegraph, this morning, linked here, which begins as follows:

Irish central bank data showed losses of €40bn (£34bn) in deposits from the key banks in December, compared with €27bn a month earlier. Over the past year Irish lenders have haemorrhaged €110bn, equal to 60pc of gross national product. "Would I want to leave money in an institution where I don't know who is making the rules?" said Gary Jenkins from Evolution Securities. 

As this blog pointed out last Friday, here, the new incoming Irish administration will find it impossible to live within the terms of the absurd EU/IMF deal and will therefore be forced to renege.  This plain fact will become increasingly obvious as the election campaign gets fully under way between now and 25th February.

Moves towards a Franco-German Governance for the Euro Zone are thoroughly depressing and seem to be about to be advanced further at a meeting in Brussels tomorrow, according to the IHT, linked here.

Yesterday's scenes on the streets of Cairo clearly illustrate that however oppressive non-democratic regimes become and regardless of the decades they may remain in force, eventually they will end in bloodshed if not finally overthrown.

Why is the EU so resolute in rejecting any real democracy, that is the tragedy of our age?  President Sarkozy of France in pursuing this course reminds me of this old limerick:

There once was a lady from Niger
Who smiled as she rode on a tiger
They came back from the ride
With the lady inside
And the smile on the face of the tiger