Considering the fact that Ireland's indebtedness to the U.K. amounts to 7% of Britain's gross domestic product, compared with 4.5% for Germany and 2% for France, it is odd that Conservatives put up such an argument about an Irish bailout, according to The Economist. Many of the objections were "economically and politically crackers," which were met with commendable restraint by Chancellor George Osborne. "From the point of view of managing Britain's debt burden, the EU mechanism looks like a rather attractive way of helping out neighbours in need," the magazine notes.

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