Good luck finding anything regarding what is or is not an empire in Economics 101.

The current crisis is an interesting example of interlinked market strategies. US and UK have pursued deregulation of financial instruments, making it easier for companies to trade debt and debt insurance. The result of this is higher profits from fast trading, and increased interlinking of countries. This is why the UK and US are following broadly similiar paths, although the US is suffering more severely.
The central European economies didn't follow this path, which is why Spanish banks like Santander are in a position to buy up failing institutions like Bradford & Bingley.
Curiously, it was a French bank that "broke" this mess, BNP Paribas.

Often it is talked of that Britain is 6-12 months behind the US regarding the current economic crisis.

Tchocky, What are your thoughts on the government of Irelands decision to guarantee 100% of all deposits in Irelands bank? Responsible or dangerous protectionist move with possible unintended damaging consequences for Europe?

Mixed feelings, honestly.

On one hand, it puts confidence back into the Irish system, which is good. The corollary is that it undermines investor confidence in every other European economy, and leads to massive savings withdrawals from European banks at the precise moment when banks need as much liquidity as possible.

So much of the national wealth is tied up in housing that no bank was going to be allowed to fail. So this step isn't so brave. Rather disruptive and damaging, I think.
It's a article of economic faith that the state makes a bad banker, so the end result of this, should the guarantee need to be underwritten, would be a huge and inefficient banking sector.

Not that that could happen - the value of all accounts in the country is twice our GDP. So it's a fall-on-sword moment.

I don't know how the Government expect to pay for this.

I'm supposed to feel reassured that my account is safe - I was reassured already. This does nothing but create trouble for other banks and countries.

That said, if the ideal move here is for all EU countries to do the same, there's no way that all countries could reach consensus in time. This kind of confidence restoration needs to be done quickly. More quickly than 27 governments can do it.

So, I think we're overall worse off, but it wasn't an inherently bad idea.

I tend to agree with what you have said above.

I just hope that this doesn't set off a chain reaction from other Euro nations doing a similar thing.

The way things are going I may have to move forward plans of moving back to Australia with my English wife.

I assume they just woke you up from a 1-decade-minimum hibernation sleep, since oyu have missed so many things, obviously!? Now you are awake again and see the sun setting, so to speak - and conclude from that that it never has been noon.

Your reply is forcing me to drink heavily today....:damn:

The WTO and ITO are also in this mix which the "American Empire" does not control, but rather has heavy european ifluence and UN influence. There is where your problem remains.