What the papers say

Journalist Fionola Meredith takes a look at what is making the headlines in Friday's morning newspapers.

The papers are caught on the hop by the failure - so far - of the Wall Street rescue plan.

The Mirror's headline - "Phew! US Saves world economy" - is a bit premature, likewise the Times' report of "sighs of relief" in the stock markets and the Independent's description of "an air of calm".

But the Daily Telegraph's top story - a report on the Republic of Ireland's slide into recession - is all too true.

The Republic follows Denmark as the second European country to fall into recession, but it's the first in the Eurozone to do so, after being rocked by that domestic property meltdown.

'Bust'

The Irish Times has all the figures, adding up to a 7bn euro tax shortfall. "It's official, the economy is bust," says the paper.

The Belfast Telegraph is getting edgy - "Recession is just across the border," says the headline.

But maybe we don't need to panic just yet. Economist Michael Smyth tells the paper that our economy is pretty flat, but it's not contracting - yet.

Over at the Irish News, the focus is the dropping of charges against David McCartan, the man accused of killing his mother.

He describes how he plans to take legal action against the authorities.

Valuables

A distressed 79-year-old grandmother is pictured in the News Letter, after her home in the lower Shankill area of Belfast was targeted by burglars while she was in church.

The thieves took cash she had saved to fill her oil tank over the winter, as well as other valuables.

The Guardian claims an exclusive for its top story: the claim that Israel gave serious thought this spring to launching a military strike on Iran's nuclear sites, but was informed that George Bush wouldn't support it.

The paper says that Bush's refusal to support an attack, and the strong hint he wouldn't change his mind, is likely to end speculation that Washington might be preparing an "October surprise" before the US election.

A very different Israeli story in the Times: Paul McCartney is pictured strumming away on stage in Tel Aviv, in defiance of threats from Jewish and Palestinian militants.

Austere

He played there more than 40 years after the Beatles' first scheduled gig was cancelled because Israeli authorities thought the Fab Four would corrupt the youth of the austere young state.

We've now had a glimpse of the new identity cards, and the Independent is far from impressed.

"Unconscionable, an outrage and a threat to our historic civil liberties" is how it describes them.

The paper says it's an "act of stupidity" to introduce the £4.7bn government scheme at a time of stretched public finances.

And finally, the Times brings news of a culinary tribute to Sir Ernest Shackleton, the polar explorer.

On Thursday, as the descendents of Shackleton prepared to recreate his 1908 journey to the South Pole, a London chef decided to rustle his own version of what Shackleton and his men ate on that trip.

A case of first catch your penguin, you'd have thought.

It didn't sound very promising - apart from penguin, Shackleton also tucked into biscuits, greasy stew and the occasional piece of pony, all adding up to a whopping 6,000 calories per sitting.

Chef Pawel Jursa substituted goose, a 20 ounce steak and a big portion of chocolate fondant.