We must not only be prepared, but prepared to act. 1 I would like to thank Caroline Mehigan and Mícheál O’Keeffe for their contribution to my remarks. 2 Donnery, Sharon: Risks and Resilience in Uncertain Times, Address to the Institute of International and  European Affairs (8 March 2019). 3 Central Bank of Ireland: Financial Stability Review (2019:1).
Prompted by the revelation of the true condition of Greece’s public finances, the crisis rapidly evolved into a basic mutual distrust among European countries: some (public opinion, governments, even national central banks) started to fear that, thanks to the common currency, other countries would finance their profligacy with the money of taxpayers in the first group of countries; the second group of countries began to blame the first group for  1  Rossi (2017).