The EU Summit: Turning Point or Tipping Point?

By Tony Connelly, RTÉ Europe Editor, Brussels Once again an EU summit is pregnant with a sense of impending disaster, with expectations being lowered all week that a breakthrough can be delivered which will reverse, or even just slow down, the escalating debt crisis. In the immediate term Spain and Italy’s borrowing costs are threatening to tip both countries – Spain followed by Italy – into a wholesale sovereign rescue that the two bailout funds cannot afford. In the medium …