External bailout seems likely option as Ireland teeters on brink of abyss

Any rescue puts us between the devil and the deep blue sea, writes Constantin Gurdgiev

IT’S time to face reality. By all possible metrics, Ireland is in the deepest economic crisis known to the developed world this side of 1945.

Over the last six trading days we have posted consecutive Eurozone-wide records in terms of bond yields. The cost at which our Government can borrow funds is now in excess of 6.7% and climbing.