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Well-known member
Apr 26, 2010
A year ago, it was rightly argued that social unrest would have hurt Irelands ability to borrow on the international markets. In other words, if people rioted, they would have been shooting themselves in the foot.

Now the game is changing. When we enter the EPSF/IMF we exit the market for two or three years. We are funded at an unchanging fixed rate (say 5%). This means that the major economic disincentive to rioting has been removed.

It is a sad fact that game theory would suggest that serious social unrest will occur during the bailout period.

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