We argued, in several blog posts, that the European Institutions and Member States bullied Ireland into accepting a EU bailout, this has now been confirmed.

The EUobserver reports today that the EU ‘bullied’ Ireland into bailout. Phillipe Legrain, former adviser at the Bureau of European Policy Advisers, which provides advice to Jose Manuel Barroso, said “I think the bullying came from Germany because German banks were exposed a lot to Ireland and from the European Commission which aligned itself close to Germany . . . and it came from Jean Claude Trichet who sought to advance the interests of French banks,”. Then, he stressed “in effect EU institutions were putting the interests of those banks ahead of those of Irish citizens”.