Euro strugglers eye Ireland for crisis lessons

To the relief of its creditors, Ireland is showing the rest of the struggling euro zone periphery that fiscal and wage discipline will eventually be rewarded by the bond markets, if not appreciated by the man in the street.

A less heartening lesson is that throwing away the crutch of IMF and EU support, as Dublin is likely to be able to do later this year, is no ticket back to pre-crisis prosperity: nations on the euro zone’s rim have dug a debt hole so deep that they face years more of morale-sapping austerity and sub-par growth.

via Business feed http://www.scmp.com/business/economy/article/1150760/euro-strugglers-eye-ireland-crisis-lessons