Exiting the bailout
Sir, – Vincent Browne (Opinion, November 6th) is absolutely correct in his analysis of “Ireland regaining her sovereignty”, once we exit the bailout. The Lisbon Treaty ensures that we are governed by the EU forever. That treaty has reduced this State to the status of a county council. No matter who we elect at the next election: the rules of the game and the budgets will be decided by the EU. Therefore, is it not time to signal our intent to withdraw from this new empire as we did from the British empire?
There is another reason for departing this rich man’s club: that is the “Transatlantic Trade and Investment Partnership” currently being negotiated by the EU and US. This agreement is a highly dangerous neoliberal piece of legislation. If it were passed into law it would hand over all our public services to multinationals. The Irish people need to understand the dangers we face. We need to get away from the “private good, public bad” approach. The public sector needs to be protected for the common good. The EU empire is offering nothing but perpetual austerity. It’s time to depart. – Yours, etc,
Old Youghal Road,
Sir, – It was with mirth sprinkled with cynicism, that I read the articles and editorials on Ireland exiting the bailout. So the Germans in five years have achieved in Ireland what British colonial power failed to do in 700. I suggest, if ever there was a case for the pen been mightier than the sword, this is it. – Yours, etc,
A chara, – “Never again will our country’s fortunes be sacrificed through greed and short-term gain,” proclaimed Enda Kenny on Thursday after deciding to exit Ireland’s bailout without a precautionary credit line. However, I honestly believe that these words will come back to haunt Mr Kenny once the details of Budget 2016 are announced just a few months shy of General Election 2016. – Is mise,
Sir, – Listening to Government Ministers these days, like them or loathe them, it’s wonderful to understand what they are saying, although we might not like what we hear. At least dreaded phrases such as “moving foward in time” appear to have vanished from our radar screens. – Yours, etc,
Sir, – Minister for Finance Michael Noonan has often been harshly criticised for his obsession with austerity and cutbacks, but every now and then he pulls a stroke that illustrates just what a wily old fox he is. His consignment of the promissory note to the indefinite future, where all impossible debt should be dispatched, was masterful and his exit strategy from the “bailout” shows a touch of similar genius.
His sure guarantee that he will have a back-up line of support is by not arranging one in advance. Mr Noonan knows the EU desperately needs an economic success; this country is the shining light in that category at the moment. Ireland’s weakness and danger of slipping back into bailout mode is its great strength.
Such a catastrophe could herald the twilight zone for the euro, so within a year or possibly two Mr Noonan will brandish that possibility to ensure the ECB follows through on the retrospective recapitalisation of Irish banks so casually mentioned and forgotten at a financial conference last year. The Irish debt will drop from the impossible to the improbable and bring much needed relief.
Mr Noonan may not yet fully grasp that the root cause of economic upheaval is technological rather than fiscal, but when it comes to outsmarting the dour bureaucrats of Brussels he shows he is still the maestro. – Yours, etc,
Sir, – Now that the ECB/EU/IMF team has departed our shores can Ireland be said to be in its “Gorbachev” era, ie, perish-troika? – Yours, etc,
PATRICK O SULLIVAN,