‘Threaten to veto EU issues for debt relief’

Philippe Legrain, the economic advisor to former European Commission president José Manuel Barroso, believes Ireland should threaten to veto issues important to European leaders in order to receive concessions on its bank debt.

“You can take advantage of a decision which requires unanimity, which Ireland can threaten to block unless debt relief is granted,” he said.

Mr Legrain, independent economic advisor to Barroso from 2011 to 2014, said the behaviour of the European Commission and the French and German governments in forcing Ireland to take on €64bn in bank debt had been “outrageous” and “the very opposite of the solidarity on which the European project is meant to be based”.