The buzz word is “contagion”, the fear that
the financial crisis will spread. With the Irish economy on the brink of
collapse, the government has been forced to introduce even more
draconian cuts
to the tune of £20bn to pave the way for an EU/IMF bail-out package. All
eyes
are now turning to Portugal and even Spain as the speculators move from
one
country to another.

IRELAND: The four year plan has been announced, the
cuts have been declared and the working class, particularly the poorest
sections,
are in the firing line once again.

News that
the Coalition are in discussions with the EU and IMF won’t come as a 
shock. Reports have been circulating for days now that the EU and the
Finance Ministry have been locked in discussions and some have even
claimed that the IMF have been briefing the heavyweight financial
bourgeois press internationally in an attempt to pressurise the
coalition and the opposition parties into seeking a deal.