Fadil had an ironclad alibi.

But the monetary policy story, while plausible, is not ironclad. Indeed, other factors may explain or at least contribute to current stock market trends.

It began with Operation Ironclad , the seizure of the port of Diego Suarez near the northern tip of the island, on 5 May 1942.

By addressing economic instability through pro consumption rebalancing, and political instability by removing Bo, stability has gone from a risk factor to an ironclad commitment.

Admittedly, these warnings did not add up to an ironclad case, and they certainly didn t predict the timing of the break. But the signs were there.

Netanyahu s own insistence on ironclad security arrangements is a euphemism for an Israeli presence in the Jordan Valley and no return to the Auschwitz borders of 1967.

The lesson to be learned from the crisis is that a currency union needs ironclad budget discipline to avert a boom and bust cycle in the first place.

There is no other way to keep bond yields under control and banks functioning, and there is no ironclad guarantee that the reform programs needed to do the job will be approved.

The lesson to be learned from the crisis is that a currency union needs ironclad budget discipline to avert a boom and bust cycle in the first place. Again, there are three possibilities worth considering

Buying time for reform to work requires socialization of short term risk. There is no other way to keep bond yields under control and banks functioning, and there is no ironclad guarantee that the reform programs needed to do the job will be approved.