Ireland's City bailout

http://www.theguardian.com/business/2013/dec/17/ireland-city-bailout

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I am disappointed at the cold and self-interested tone of your editorial on Ireland exiting the bailout (14 December). While Irish politicians will talk up the exit, there will be no celebrations for the majority of the population as the hardships are too close to home. There was a self-satisfaction in the editorial's observations that the UK was not part of the euro and was able to manage its own crisis independently of the eurozone. I would love to see some acknowledgment of the role that the City of London played in Ireland's crisis and how the infamous Irish guarantee in September 2008 essentially bailed out British investors. Recent data from our central bank revealed that it was Britain, not Germany (as long suspected), that stood to lose most if Irish banks failed. It seems that the bond holders and investors who broke out the champagne when the Irish bank guarantee was announced were in London, not Berlin or New York, as previously imagined. <br /><strong>Valerie Cannon</strong><br /><em>Dublin, Republic of Ireland</em>

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