"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Tuesday, 16 November 2010

Ireland "Doesn't Count For Much"

Foreign newspapers are keeping an eye on Irish debt as our msm is taken up the the Royal engagement.  The general consensus seems to be that Ireland itself isn't the problem but Spain and Portugal are.  The reason the UK is so willing to chip £12bn into the eurozone bail-out pot is that UK banks own £150bn of Irish debt; German banks own even more.    It will be another mish-mash of sticking plasters & stitch-ups as they all run around squawking like headless chickens: "Never let a good crisis go to waste."

PressEurop
Der Spiegel
Irish Times
As Finland says it won't contribute to any bail-out 'Austria tells Greece to get stuffed'
Burning our Money has a good video of van Rompuy defending the handling of 'the crisis' and hailing a new era of co-operation. My @rse.

4 comments:

  1. It's all a con the latest 'crisis' GV. The EU's swimming in money and Ireland will survive. Particularly their bankers.

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  2. And a crisis of their own making at that, SR. There'll be calls for 'even closer ties' to avert anything similar in the future - van Rompuy has already started with the self-congratulatory rhetoric. They never were going to abandon the project but, for all that, I'm glad that people are paying closer attention to what's happening.

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  3. What is appalling is the fact that even the citizens of the poor countries of Europe have to contribute to a number of support packages to save the businesses of irresponsible bankers. This kind of solidarity doesn’t make any sense to me.

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  4. Hi Lorne, I think, ultimately, it's just about siphoning off money and diverting it into already-fat wallets. The corruption, back-handers, schemes that don't exist in reality - it's a nonsense. You're right, the van Rompuy kind of 'solidarity' is one normal people don't recognise.

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