The euro area's sovereign debt crisis continues though significant steps have been taken to resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt crisis...

Prologue: "The hippopotamus under the rug" -- The most certain man in the world -- Triumph -- The stealth ideologue -- The rise of Rubinomics -- Larry and Joe -- Portrait of a contrarian -- Children of the boom -- The high tide of hubris -- The last guy at the Alamo -- Reaganites redux -- The...

This paper first considers the origins of the Irish economic crisis. It discusses where the policy failures occurred, to what extent they were foreseeable, and how certain key financial institutions performed in the run up to the crisis. In the light of this analysis the paper then considers...