Ireland 1 – Formerly mighty Blighty 0

Hot on the heals of a Henry McDonald article proclaiming the south to be

a country on the edge of bankruptcy and a people seething with anger over the greed and profligacy of the nation’s political and financial elite.

Marc Coleman dons the cudgels for Ireland and counters that Ireland is on a path to real recovery, while the timing of the British election has meant that the UK economy has become a fools paradise with hard decisions delayed.

Whether they keep their jobs or not, some UK politicians may have to eat their words after Britain’s general election of May 6. And if they stay in government, they may wish they hadn’t.

Unlike Ireland, Britain has failed to grasp the nettle of fiscal correction, postponing the day of reckoning and making sure that day will be much worse than had timely action been taken.

Much like Liam Halligan’s earlier article in The Telegraph, covered on Slugger here, Coleman’s article goes very much against the grain. Only time will tell which view – if any – is right. Both states must overcome major challenges if they are to avoid the fate of late nineties early naughties Argentina.

No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .

Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm