What the papers say

Journalist Paul Moore reviews Friday's morning newspapers.

Two contradictory themes grace the front pages of the Irish News this morning.

On one side of the page is the image of Christmas tree lights sparkling through a window shattered by loyalist gunfire in north Belfast.

And on the other side is an article claiming that the Orange Volunteers will go on ceasefire from 31 December in a bid to distance itself from what it calls "gangsterism and drug dealing within loyalism".

The article says the decision of the dissident group was influenced by a "senior" Church leader.

Funding

The News Letter leads with the warning by a leading GP, Dr Raymond Shearer, that unless urgent efforts are made to improve funding of the NHS then doctors may be forced to resign "for ethical reasons".

Dr Shearer is quoted as saying that "the government can afford to fight a war but remain tightfisted when it comes to funding NHS surgeries".

Both local papers address the issue of bus services in Belfast after yesterday's strike action.

In an editorial, the Irish News argues that while the anger of drivers is understandable they need to avoid action that will penalise ordinary shoppers and commuters.

The Irish Times and the Irish Independent both address the issue of the economy in their editorials in light of the impending introduction of the euro.

Markets

The Irish Times claims the last 12 months are littered with "the carcasses of new economy companies that had big dreams but little revenue" and suggests that the recovery of the world economy will hinge on the capacity of the USA to bounce back from Spring onwards.

The Irish Independent emphasises the importance of the introduction of the euro in monetary history and expresses the hope that the introduction of the new notes will herald greater stability in the European markets.

Both papers might do well to note the front page of the Independent where there is news of the theft in Italy of a bag containing one million euro that could become the focus of an attempt to ensure that forged euro notes reach the market first.

A number of papers speculate on the fate of Osama Bin Laden, the Independent quoting the view of Afghan officials that he is hiding in Pakistan, while the Guardian says US officials are at a loss to know where he might be despite the Afghan claims.