Well, That Was Quick, Ireland Edition

Irish PM is forced to agree to dissolve government. Holy Crap! Excerpts in italics:

Amid calls for his immediate resignation from at least two MPs in his own Fianna Fail party and the withdrawal of support from coalition partners the Green Party, Prime Minister Brian Cowen was forced on Monday to announce the pending dissolution of his government.
..
The turmoil and political uncertainty following a bailout that was meant to bring stability has done little to calm markets; despite hopes the package would ease Ireland’s debt crisis, borrowing costs barely budged and the euro declined in the markets Monday. This has heightened concerns among European leaders that the rescue has failed and that further bailouts may be needed to prevent a run on Portuguese and Spanish banks and bond markets.

Hours after the European Union and the Washington-based International Monetary Fund negotiated an €85-billion bailout-loan package on Sunday, the Green Party, which holds the balance of seats that allows Mr. Cowen’s Fianna Fail to govern, delivered a poison-pill announcement: it will pass the brutal austerity measures required as part of the bailout, but at the cost of killing the government.

Green Leader John Gormley, expressing the views of increasingly furious Irish citizens, said he would allow the government to pass a four-year program to slash a further €15-billion from government spending through tax hikes and service cuts in the Dec. 7 budget bill. But he demanded a national election in January in return, a move that will almost certainly end the career of Mr. Cowen and possibly eviscerate his party.
And:
The allies of the Prime Minister, or Taoiseach, wasted little time in delivering the long knives on Monday, distancing themselves from a leader who has infuriated voters by insisting for weeks that Ireland’s sovereignty would be kept intact – and by keeping Ireland’s low 12.5-per-cent corporate tax in place while raising taxes and slashing welfare.

Let the protests begin!

And, because it's Ireland, the Real IRA's gonna kick it up a few notches..

The speed of this whole process has been so much faster than any "mainstream" analyst dreamed it could be.. Last week, a bailout was proposed and implemented, and yesterday, it failed. And Ireland begins a descent into.. No one knows. And the pace of these events is accelerating..

Portugal's next(Oops!). Then Spain. And Italy? And then?

Pay close attention: History is being made right before our eyes.