Ireland one giant EU experiment and we are the laboratory rats?

cry freedom

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With the conflicting utterances coming out of various corners of the EU
it would seem to me that they are using this country as one big experiment to stress test their monetary system.
One day we are fed a diet of fiscal rectitude. Next they suggest that the bond holders are burnable. The latest electric prodder they are using is a ludicrous 6.7% interest rate.
Either they are sadistic, confused or experimenting, and I don't know which is the most frightening.
 


Tea Party Patriot

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With the conflicting utterances coming out of various corners of the EU
it would seem to me that they are using this country as one big experiment to stress test their monetary system.
One day we are fed a diet of fiscal rectitude. Next they suggest that the bond holders are burnable. The latest electric prodder they are using is a ludicrous 6.7% interest rate.
Either they are sadistic, confused or experimenting, and I don't know which is the most frightening.
The truth of the matter is that the full scale of the financial rot is yet to be exposed accross the EU. The Germans are trying to prolong the life of a corpse and Ireland will be sucked of it's lifeblood in order to do so.

Based on estimated interest rates and the scale of borrowing involved, coupled with the fact that mortgage defaults havn't even kicked in yet, we will have to default anyway down the road.

Then there are the turkeys of Spain and Portugal who are next in line, once they go they will feed into Italy, who in turn will feed into France and then we will see the endgame emerge.

Germany and the ECB will be faced with having to use quantative easing in order to cancel out the debt, the big question is will the Germans bite the bullet and suffer the inevitable inflation or will they pull the plug on the Euro?

So while we are in some ways a Lab Rat, in others we are the first point of battle for the attempt to save the Euro. The problem is that the generals have thrown a lot of their reserves against the enemy lines before the war has even gotten fully underway.
 

Insole

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I don't think we are experimented with, but I am sure we will make an excellent case study sometime.
FF have sleepwalked us to this situation and the EU is sleepwalking us into slavery.
Nobody is going to wake up until government buildings are burning. At that stage the economy will have collapsed. I fear it is going to become extremely nasty.
 

Berliner

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I am afraid Ireland was used for neoliberal experiments.
 

Berliner

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was and is mein lieber fruend
The neoliberal experiment failed but you are right the socio-economic experiments continue. Now they are going the analyse the pain threshold of people by increasing taxes and reduced public spending.
 

dominodancer

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Boomtown Rats

We had no probs when people were referring to us as Boomtown Rats.

And I hear Geldoff is offering to do a concert to help the Irish economy - Lemon Aid. Bono can't make it - too busy meeting his tax lawyers in The Netherlands.

And I hear the British and oz governments are already complaining about the large numbers of TRAFFICKED young Irish people landing on their shores - expecting to claim their DOLE!
 

oggy

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Glad to see someone has used the word "experiment" in a post relating to whats going on. I am absolutely convinced the credit binge and low interest rates were an experiment that went hopelessly wrong. I also believe there is a fundamental reappraissal of money on a worldwide scale and yes poor Ireland is a victim of the machinations of faceless people
 

Squire Allworthy

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I don't think we are experimented with, but I am sure we will make an excellent case study sometime.
FF have sleepwalked us to this situation and the EU is sleepwalking us into slavery.
That is probably about the truth of it. It is blunder after blunder and an EU emasculated by division and indecision, with no clarity of purpose and vision.

Why does everyone think the progression will be Ireland, Iberia, Italy? It could gain momentum very quickly and just how safe is Germany and how cohesiveness?

Also look around at the mighty dollar and sterling those beacons of free trade and ask what is a failed currency?

The failure goes way back, it goes back to the idea that you can export production to slave economies overseas. That and the resulting loss of competitiveness is the nub of the problem. That is what enabled investment to relocate and profit at your expense whilst the West cocooned itself in a la la land of inflated currency values.

Well that is ending, so prepare for a new reality.
 

Tea Party Patriot

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I am afraid Ireland was used for neoliberal experiments.
Please do not spout that left-wing pap. The Irish economy is anything but neoliberal, highest dole payments in Europe, highest minimum wage, highest health service salaries in the EU outside of France, a bloated civil service with one of the highest per capita numbers of employees in the world.

FF's level of spending was on a socialist scale, if they were neoliberal we wouldn't be in this mess!
 

LeDroit

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Please do not spout that left-wing pap. The Irish economy is anything but neoliberal, highest dole payments in Europe, highest minimum wage, highest health service salaries in the EU outside of France, a bloated civil service with one of the highest per capita numbers of employees in the world.

FF's level of spending was on a socialist scale, if they were neoliberal we wouldn't be in this mess!
+100

Nationalisation is not a neo liberal tool. Liquidation is.
 

Twin Towers

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Please do not spout that left-wing pap. The Irish economy is anything but neoliberal, highest dole payments in Europe, highest minimum wage, highest health service salaries in the EU outside of France, a bloated civil service with one of the highest per capita numbers of employees in the world.
Very true but Berliner is just parroting the kind of tosh that is pedalled in the German media.
 

Insole

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That is probably about the truth of it. It is blunder after blunder and an EU emasculated by division and indecision, with no clarity of purpose and vision.

Why does everyone think the progression will be Ireland, Iberia, Italy? It could gain momentum very quickly and just how safe is Germany and how cohesiveness?

Also look around at the mighty dollar and sterling those beacons of free trade and ask what is a failed currency?

The failure goes way back, it goes back to the idea that you can export production to slave economies overseas. That and the resulting loss of competitiveness is the nub of the problem. That is what enabled investment to relocate and profit at your expense whilst the West cocooned itself in a la la land of inflated currency values.

Well that is ending, so prepare for a new reality.
I shudder to think what the reality will be, and I feel that a sizeable percentage of the population as evidenced by 7000+ votes for FF in Donegal are nowhere near contemplating the breakdown of the economy.
The writing is on the wall for a catastrophe coming down the line at us. The € will split into two currencies or we will inflate our way out of debt. If we're not careful we'll end up using a currency on a par with the Zim Dollar.
 

Monday Monday

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Both socialists and libertarians are justifiably up in arms over what has happened.

Ireland - A socialist style public-spending plan backed by a neo-liberal style taxation strategy.

Only politicians of monumental stupidity could put together a system like that.

Step forward Fianna Fail .
 


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