Sir, – I am amazed at Prof Brian Lucey's analysis of the current Greek impasse. (Opinion: July 3rd). "That is not democracy," he concludes, "it is naked power. A union of sovereign states must be constructed on the basis that each is as important as the other."
Is he seriously suggesting that Ireland can ever have the same influence at EU level as Germany, a country 18 times its size? Should Ireland be represented by the same number of MEPs in the European Parliament, perhaps? Does an economist really need reminding that we still live in a capitalist system where money and capital is power, and where the ever-increasing power of the Goldman Sachs’, Apples, Googles or Rupert Murdochs can only be curbed by countries pursuing common rather than separate national policies?
The European Union is founded on the principle that nation states pool their sovereignty, rather than insist on retaining them.
It is also worth reflecting on how much better Ireland would have fared if the European Commission had not just expressed its uneasiness about Charlie McCreevy’s bubble-blowing budgets but had actually stopped them, or the ECB had properly overseen the Irish Regulator.
I guess Prof Lucey is also arguing for eurobonds, both to help Greece and Ireland – as I would. Should they ever be introduced, they will not come free but will, and must, usher in the final phase of complete economic and monetary union, and hence the final abandonment of the outmoded fiction of national sovereignty? Which in my view cannot come soon enough. – Yours, etc,
JOACHIM FISCHER
Ballina,
Co Tipperary.
Sir, – Brian Lucey (Opinion: July 3rd) pours scorn on the troika’s policy of insisting that Greece pursues sustainable fiscal and economic policies.
Prof Lucey offers little in the way of evidence to support his views and even less to support the canary in a coalmine metaphor. His polemic offers almost no ideas on how better to address the Greek crisis and descends into speculation about the troika’s and Ireland’s political motives.
The nearest he gets to practical policy is to suggest that new bailout funds be focused on “identifiable microeconomic governance and organisational change”, hardly a comprehensive formula.
Greece has had as much opportunity as Ireland to place itself on a sustainable economic footing.
No more than any bankrupt, it is not in a position to dictate terms and is fortunate to have lenders of last resort.
Prof Lucey should produce some real economic analysis and in the process help repair the battered reputation of his profession. – Yours, etc,
JOE LENIHAN
Dublin 9.
Sir, – At 61 per cent the result is almost the same as our recent equality vote. So in the style of Taoiseach Enda Kenny – the people have spoken. They have said No. Greece – thank you.
– Yours, etc,
GAVIN HARTE
Dún Laoghaire
Co Dublin .
Sir, – By their vote the Greeks have shown that democracy is not enforceable by threats, bullying or dictatorship.
Now is the challenge for so called “democratic” leaders in Europe to realise that they don’t interpret or own democracy; it is of the people for the people. – Yours, etc
BRIAN MORE O’FERRALL
Foxrock,
Dublin 18.