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The dizzying scale of Irish debt as finally revealed by the financial and state authorities yesterday will have no doubt left most of us reeling from shock and anger. Already dubbed ‘Black Thursday’, the figure of more than €35 billion now defined as the outer limits of what we must raise in order to pay off government liabilities, is staggering. The news of a further €3 billion bail-out required for AIB, that will effectively nationalise the country’s largest bank with money taken from our own National Reserve Pension Fund, can only be described as sickening. Coming one on top of the other in the face of the international markets deeming Ireland a no-confidence zone, it feels like we are just being socked in the stomach over and over again. How many more body blows can we endure?

The dizzying scale of Irish debt as finally revealed by the financial and state authorities yesterday will have no doubt left most of us reeling from shock and anger. Already dubbed ‘Black Thursday’, the figure of more than €35 billion now defined as the outer limits of what we must raise in order to pay off government liabilities, is staggering. The news of a further €3 billion bail-out required for AIB, that will effectively nationalise the country’s largest bank with money taken from our own National Reserve Pension Fund, can only be described as sickening. Coming one on top of the other in the face of the international markets deeming Ireland a no-confidence zone, it feels like we are just being socked in the stomach over and over again. How many more body blows can we endure?