Let’s hope the EU averts its eyes from rising Irish debt

IRELAND – how do we do it?

The figures produced during the week showed that Ireland had been cooking the books in its own fashion, but the world – luckily – didn’t seem to notice as all eyes were on Greece.

The people who really understand economics said that it was correct to ignore it, as Ireland’s misplacing of the €4 billion to that black hole known as Anglo Irish did not change the facts. It was more about accounting theology, to quote on expert, than anything else. But even so the difference between cooking the books and accounting theology did not do Greece any good last Thursday.