The tactless
intervention of the EU officials in Greek politics has put the cat
among the pigeons here. Until now the pretence was maintained of
“political consensus” as a condition for any funding from the IMF and EU
loan. There was even talk of a possible "soft restructuring” of
subsequent instalments of the € 110 billion loan or a new loan of € 50 –
€60 billion. It was hinted that they might lengthen the repayment of
the older debt.

IRELAND: News that Labour Ministers and TD’s have
been involved in a concerted campaign to attack Richard Bruton’s attacks
on low paid workers through changing the mechanisms of the Joint Labour
Committee has been denied by Pat Rabbitte who has claimed that the
suggestion is “utter nonsense”.

The Euro zone is in a mess. After a
year of huge financial bail outs intended to calm the markets, the
latter are very unstable, with a marked downward tendency. Signs of
slowing global growth, and the continuing euro zone debt crisis, have
caused the markets to slump. The nervousness of the markets is an
accurate reflection of the growing anxiety of the bourgeois about the
economic prospects for Europe.