EU fails to reassure markets

Ireland has now declared its willingness to accept financial help from the euro bailout fund. The daily Le Quotidien questions the capability of the EU to stabilise Europe: "A few months ago, when Greece sunk into a serious economic crisis that threatened to engulf the entire Eurozone the Europeans resisted the help and the money that the International Monetary Fund (IMF) was offering them to end the crisis. In the end they accepted it out of fear that the rest of the world would see them as incapable of solving their own problems. Now that Ireland is on the brink of bankruptcy a European delegation has flown with the IMF to Dublin. ... Is Europe incapable of ensuring its own stability? Surely not. But on the other hand it doesn't seem capable of calming the markets from which the Irish banks are being banned."

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