Peter "Just Loves Flying"

THE countdown has begun. It is a matter of when, not if, the Greek government and creditors will have to reconcile a 50% default on their sovereign debt.

With total loans of €353 billion, their national output of €200bn cannot sustain repayments. More liquidity won’t resolve underlying insolvency. Even if an interim €8bn is sanctioned in coming days, it only postpones the inevitable. IMF, World Bank, G20, US Treasury, markets and now European leaders have begun to drop denial and start planning for fallout on the euro and global economy. Ireland should rethink it’s own strategy

DRUG experts have expressed alarm at the first major seizure in Ireland of crystal meth, a highly addictive and destructive drug that has laid waste to many US communities.  Customs and gardaí intercepted 2.5kg of the drug, with an estimated street value of €250,000, at Dublin Airport.