Reasons behind no deal on debt

The Irish government asks the EU to take over some public debt in the banking sector by the ESM. After Spain got a special programme, prospects for such a proposal may not be too bad.

Further, in saving the banks the Irish State saved assets of lenders — and from the EU.

Thus it seems fair that the EU takes some of the risks, since the EU urged Ireland to take the rescue package in late 2010 and to safeguard its banks.