Those were always the choices available. In good times and in bad, the choices we have to make dont change they just have larger and more immediate relevance.
Maybe the man who will be trying not to smile can save us.
Dont focus on the negative, dont think of it as endgame anything, think of it as the startgame something else…
All the signs seem to point in that direction although it doesn’t feel like 2008, it felt then as if it could all blow up any second it doesn’t feel like that now. When it does happen it’ll be interesting to see how we re-act, we’ve had three years of bad news I think people are numb and tired of all this incessant crisis. There’s been 1 month, 10 days 5 hours to save the Euro for what seems like an eternity now. Still and all for all that, none of the mainstream parties (including SF) seem prepared or even willing to contemplate what an exit from the Euro will mean.
I think JMC is right we may not be looking at many Xmas specials on the box over the Xmas period. NYE could be very interesting.
The ‘paper of record’ is blatantly advocating that the population should stay, what they don’t say is the choice is between Monnet’s political endgame which is the loss of democracy with Ireland becoming a vassal state to the European central powers or alternatively a collapse of the monetary system in a wave of big bank failures cascading across Europe. It is obvious the permanent government would like to stay closeted under the shield of bureaucracy, but, will the politicians submit so easily to being relegated to the role of debt collectors?
I believe that the only way that Ireland will be out of the euro is if the euro ceases to exist.
At the moment, Ireland (though its state owned banks) owes some many billions to the ECB and the euro NCB. Likewise, the ECB owns a significant amount of Irish debt (in terms of the size of Irish debt). This number has gone down a bit since the last bailout, but is still a significant figure. A figure large enough that repudiating it would mean solvency for the state or bustness for the ECB.
I believe the, rather dangerous, game our Micky is playing is that we will not repay any of that while there is a risk we will not be included in the club. That may not continue, but I believe that is the game for the moment.
I have no special information.
Everyone is wrong some of the time, most people are wrong most of the time, a few people are rarely wrong.
Which do you believe you are?
I believe I am ‘most’.
I believe most of the posters on this side are ‘most’.
unfortunately that is probably true. Ireland will not default and leave the euro until everybody has emigrated and the place has been sold off for a song to the oligarchs. ireland is rudderless heading straight towards the waterfall while enda noonannight are happy being patted on the head by their euro masters. what a fuckin disaster
It would be nice to think that we would have the leadership that is capable to fight our corner in the eventual “restructuring” that has to take place. Unfortunately, I think as the civil service and government have proved before, Stockholm Syndrome afflicts the upper echelons of the Irish leadership. I think it even occured to Mickey to push the button for the nuclear option and it came to a game of chicken, Ireland would blink first, because the ECB only need to raise the possibility of not releasing the next tranche of funding and it would silence any notion of defiance.
In other news, the mother talked about putting her meagre retirement savings into gold for the first time ever last night. It appears to me that the longer we let this go on, the uglier this is going to end…
This has been apparent to all but the wilfully blind since 2007. Clever people knew it a long time before that even. It never ceases to astonish me that 4 years after the crash, there are loads of people out there who think it’s just a little dent and we’ll be back on the road sooner or later.
This is nothing short of total economic collapse a la Iceland or Argentina, albeit dragged out over half a decade … so far. Until it is accepted by a least some at the reins of power that the whole economic model is irreperably banjaxed we will never start to take the obvious next step of planning an alternative. Until then, the question of whether we are in or out of the Euro will be made by others, in this case Germans and French who consider what is in the interests of their respective countries and haggle and swindle accordingly. The permanent government, Micheal Noonan, Enda Kenny, Eamonn Gilmore and all the ignorant gombeens who’ve run the country for half a century now, have never looked further than their own obsence pension packages.
These tramps have observed that there may a good living to be made from dragging out the inevitable and will do anything to conceal the obvious from the voters. Sadly, many of the voters are gorged on a diet of Fair City, eXposé! and Champions League and so need very little subterfuge to keep them docile.
Short of some of these pigs being shot down in the street, I can’t see their grip being loosened.