Who is to blame for the Irish crisis? The question goes to the heart of Ireland's current situation and offers guidance to policymakers in Britain who wish to avoid a similar fate. David Howden argues that the blame lies both with the European Central Bank, which created perverse incentives for investment through low interest rates, and with the Irish investors who reacted to those incentives.
No country has suffered more because of the euro than Ireland. In this think piece, David Howden argues that Ireland and Iceland offer contrasting paths from financial collapse, with Iceland on the road to recovery and Ireland on the road to nowhere. If Ireland wants to change course, it's time for it to say goodbye to the euro.