Oh Great: Now There’s A Brand New Referendum Worry In Ireland

dublin pub

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So this is the week that the Eurozone freakout comes back a little.In addition to Greece stuff, and rising Portuguese yields, Ireland is back in the news, a depressing development since that’s the one debt-stricken European country that’s made clear progress on convincing the market that it’s returning to health.

Apparently a huge chunk of the population wants the government to hold a referendum on new EU fiscal rules, and evidently passage of said rules is not assured. And if Ireland doesn’t abide by the new fiscal compact, then it’s access to bailout money and so on is in doubt.

It doesn’t look like anything’s decided yet or anything, but if anything it’s a reminder that monkeywrenches can show up anywhere at anytime.