Ireland Crisis Might Give China Break It Seeks: Simon Johnson

There will be many twists and turns as the Ireland debt crisis unfolds and there’s a chance a resolution might just lead to Asia.

Here’s how I see it playing out. Ireland will accept a modest package of support from the European Union, presumably with International Monetary Fund involvement. At the same time, investors are coming to realize that Ireland’s future debt path is, beyond a reasonable doubt, unsustainable.