Kevin Callinan: Ireland must be ready to embrace the European winds of change

The Franco-German proposal for a €500bn recovery fund, supported by EU borrowing, appears to have strong backing within the European Commission, although there’s still resistance from the so-called frugal four. The commission itself is reported to prefer an even stronger response comprised of loans and grants. Picture: Carl Court/Getty Images

Unlike the conditions that prevailed a decade ago, Europe seems to be moving in what might be a more social democratic direction, writes Kevin Callinan