Something makes me think that the IMF are holding fire on Ireland until a new government is installed. But after that happens they will be back with a vengeance. The IMF has a record of bringing severe hardship to the countries that it rescues and we haven't seen anything yet.
What is the nightmare scenario for the next Dail in relation to the IMF/EU bailout?
- Could Ireland revert to a heavily devalued punt, leading to massive inflation?
- Could Ireland be forced to increase corporation tax or suffer the consequences?
- Could the IMF come in and audit the public service; slashing jobs and cutting pay, leading to strikes and riots?
- Could the next 5 budgets be increasingly worse than the last one?