[Journalism at its finest] Young journalists out there, pay attention to this guy

I think he answered the question. The ECB guy told him that basically Ireland would have to pay for the solvency of European banking institutions because the Irish goverment had decided that it was more beneficial to use the Euro for economic stability in the region rather than stay the course with their own currency. Of course, I don't agree with the policy. You may say that Texans could make the same argument for why we're subjected to the same thing by the Federal government vis-a-vis the FRB, and the feds would probably give the same response. In other words, if the Irish guy is looking for who is at fault, it would be his own goverment for claiming to work in the interest of the Irish people, but putting their financial wellbeing in jeopardy for European banking interests.

(The same applies to Texas, just replace "European banking interests" and "Irish" with "East-Coast banking interests" and "Texan" and the same situation unfolds here.)