Now That Austerity Has Failed, Where Lies The Fiscal Treaty?

General Urko

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Only the Germans, it seems and Noonan (for awhile) will continue this insane charade based apparently on a completely false economic metric!

Barroso admits austerity is not working - Independent.ie

http://www.independent.ie/irish-news/austerity-just-not-working-burton-29210700.html

The facts are clear. This cruel austerity experiment has failed | Will Hutton | Comment is free | The Observer

It's Official: Austerity Economics Doesn't Work : The New Yorker

Constantin Gurdgiev: The real reason why austerity has failed - Independent.ie

EUobserver.com / Opinion / Why austerity is failing in Europe

Why European Austerity Fails - Forbes

My question now is that this destroyer of economies and peoples' lives (especially those of vulnerable people), where lies and lies the fiscal treaty (ie enshrining permanent austerity in the constitution), which The Irish people voted in their droves for last year, despite warnings from highly intelligent people such as myself and O'Cuiv that it was complete insanity!
As Enda said at the time, we are the only race in the EU that would vote for it!:mad:

Surely it's a completely unworkable piece of nonsense and has now been exposed as such!:mad:
 


General Urko

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I take nobody on this site believes the era of austerity is over, even with our president slating it in the EU parliament in a stirring speech that got a standing ovation!
 

cruddie

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Austerity rises unemployment, thus scares the employed to take less wages, give away their employment rights, destroys the welfare system so it has it's uses. It is the politics of fear and debt. But people will still vote FG and FF. It is a great swindle and we have enshrined it in our constitution. But hey Man United won and Bayern beat Barca.
 

BlackLion

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Austerity rises unemployment, thus scares the employed to take less wages, give away their employment rights, destroys the welfare system so it has it's uses. It is the politics of fear and debt. But people will still vote FG and FF. It is a great swindle and we have enshrined it in our constitution. But hey Man United won and Bayern beat Barca.
Austerity? what austerity?
 

The Field Marshal

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EU commisioner Barrosso is a practiced deceiver.:evil:

He, this very evening on RTE, was extolling the positive realignement of the Irish unemployment situation.:roll:

I have always felt uncomfortable watching clown EU commissioner Barrosso and this evenings performence merely reinforces my view that the EU is thankfully phukked.

 
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Dreaded_Estate

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What is the alternative to austerity if no one is willing to lend you more money to spend?
 

shiel

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This is the usual ************************e.

A small number of our lords and masters bankrupt this country.

They were cheer led in that by most of the media.

Austerity is the result.

Those who caused the disaster and those who cheer led it are are all over the place now complaining about the results.

The morons on here who said nothing during the Celtic tiger are also all over the place orchestrating chaos.

It is mixture of malevolence and hypocrisy that is nauseating.

But it typifies our media and this forum.
 

Lempo

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What is the alternative to austerity if no one is willing to lend you more money to spend?
That. It is one thing to announce the austerity policy has failed but completely other thing to assume that it would automatically mean that the "Germans" will now have an open tab for everyone/anyone.

My personal feel is that the Eurocrats would think nothing of running a completely different policy, just look at the promotion of full fiscal union and Eurobonds and stuff, but they know very well they won't get the "Germans" agree to fund it so their options at this point are either to cheer for the "German" line or see their beloved Eurocrat jobs and power vaporize as the member states take back some of their economic sovereignty due to irreconsible economic policy differences between each other.
 

Iphonista

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General Urko, what's your alternative?

Please provide us with the details, fully costed, about how we pay for services, public sector pay as well as funding this 7.5% deficit.
 

Boy M5

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The thing that scares me about the lunacy of the fiscal treaty is its procyclical.
It would have changed nothing the PD / McCreevy economically illiterate bubble carried forward by Ahern and Cowen (with FG and the media cheering from the sidelines) would not have been prevented. Equally the ability of Govts to save surpluses to sensibly spend in downturns is taken away.
The Treaty is the economics equivalent of witchcraft.
 

turdsl

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When you have a minister of Finance supporting a banker who helped destroy our economy what can you expect,We voted for change, we got no change.
 

Dreaded_Estate

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This is the usual ************************e.

A small number of our lords and masters bankrupt this country.

They were cheer led in that by most of the media.

Austerity is the result.

Those who caused the disaster and those who cheer led it are are all over the place now complaining about the results.

The morons on here who said nothing during the Celtic tiger are also all over the place orchestrating chaos.

It is mixture of malevolence and hypocrisy that is nauseating.

But it typifies our media and this forum.

The disaster in the Irish economy was caused by government spending running way ahead of sustainable government tax revenue.

Caused by both massive increases in spending and stupid reductions in income taxes.

The banks, bankers and developers are an easy scapegoat but they didn't cause us to spend more than we take in tax.
They may have caused massive losses that were lumped on our shoulders, but then again it was our government that decided that this madness was a sensible policy.
 

Crazy horse 6

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This is the usual ************************e.

A small number of our lords and masters bankrupt this country.

They were cheer led in that by most of the media.

Austerity is the result.

Those who caused the disaster and those who cheer led it are are all over the place now complaining about the results.

The morons on here who said nothing during the Celtic tiger are also all over the place orchestrating chaos.

It is mixture of malevolence and hypocrisy that is nauseating.

But it typifies our media and this forum.
I've said it all along the media have far to much power in this country and are as responsible as Da Bert,yellow Enda and the other gangsters for the mess we are in.
 

Crazy horse 6

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When you have a minister of Finance supporting a banker who helped destroy our economy what can you expect,We voted for change, we got no change.


Not only did we not get change we got bare faced lies. Leo "not one more red cent for the banks" Varadkar, Pat "thats you do during elections" Rabbitte are only two examples of the reason politicans are about as well regarded as the local pedo these days.
 

Clanrickard

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Only the Germans, it seems and Noonan (for awhile) will continue this insane charade based apparently on a completely false economic metric!

Surely it's a completely unworkable piece of nonsense and has now been exposed as such!:mad:
Austerity has not been tried properly in this country.
 

Crazy horse 6

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This may be a little too subtle for most..so listen carefully !

Nobody is saying that austerity has failed...what they are saying is that additional austerity will not work and will in fact hinder the economic recovery.

I don't call it austerity ...I call it reality....reality for a country who went mad with greed,,,where you had, and still have, a cabal or golden circle with their noses firmly in the trough. where incompetence was rewarded with trouserfulls of cash and a ferral gombeen leadership.

Reality from a country where heavy balled developers bestrode the the country like a collossus and swaggered around the posh eating houses and bars like medieval knights.

Reality from a country where shiny suited and tanned bankers shoveled truck loads of cash to these new emperors and to taxi drivers and teachers an guards to buy "a couple of places" in Croatia.

The dogs in the street should have known it could not continue....but the dogs in the street did not bark.

Now the cupboard is bare......and the pups are paying the price....
Sorry but not everyone went "mad with greed". The celtic tiger never entered many peoples houses.
 


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