Will Ireland Go Bankrupt?

President Obama Visits the Irish Financial Crisis, with J.D. Foster, Heritage Foundation WebMemo #3266, May 20, 2011. "When President Obama visits Ireland on May 23–24, he is expected to visit Moneygall, in County Offaly, the ancestral home of his mother’s family. While finding Irish ancestors is a favorite electoral sport of American leaders, the President would be better advised to spend his time studying the Irish financial crisis, which has important lessons for America. If this crisis continues to deepen, the U.S. may be compelled to consider the implications of an Irish default. If default becomes inevitable, then the U.S. should not simply take the side of European institutions if doing so would uselessly prolong the crisis."