Ireland's debt crisis could kill the European Union stone dead, EU president warns

Daily Mail
"The debt crisis facing Ireland, Greece and Portugal could threaten the future of the whole European Union, EU President Herman Van Rompuy warned today.'We must all work together in order to survive with the eurozone, because if we do not survive with the eurozone, we will not survive with the European Union,' said Mr Van Rompuy.He spoke out as finance ministers tried to keep Ireland's market turmoil from triggering a domino effect that could topple other vulnerable nations and rock the region's currency union.Only months after saving Greece from bankruptcy in May, the 16-country eurozone has been shaken by concerns that Ireland will be unable to sustain the cost of its banks' failure.European nations are worried the tension is making borrowing more expensive for countries like Portugal and Spain, threatening to push them to the brink of default."