Massive Rout in Irish Elections; Collision Course with the EU; Default the Best Option for Ireland

``Fianna Fail, the party that agreed to enormously unpopular austerity measures to bail out UK, German, French and US banks, was blasted to smithereens. The vote was both expected and well deserved. The real fun begins now, and it is not at all certain what that outcome is. My choice is for default, but I do not get to vote. However, if common sense prevails, the EU and ECB is in for a rude shock.''