My interest in this debate at the moment is to find out WHO is demanding 3% by 2014 i.e. why not 0%, 2% or 4%?

Brendan Keenan seems to be closer than anybody else to finding the answer…:

http://www.independent.ie/opinion/columnists/brendan-keenan/brendan-keenan-eus-2014-borrowing-target-makes-absolutely-no-sense-2388758.html

So are the German political elite forcing us down the road of severe austerity (come what may…)  with a view to avoiding any political fall-out that might be associated with an internal financial bailout? Even it it means tumble-weed for 10 years as per the ESRI?

If Keenan is right it looks like the IMF and Germany are diverging in opinion…

Meanwhile, back at the EU “ranch” Olli Rehn seems to be attaining messenger-boy status…!

http://www.irishtimes.com/newspaper/breaking/2010/1021/breaking6.html