A bird's eye view of the vineyard
Latin America SITREP December 1st, 2015 by Jack J. Tue Dec 01, 2015 00:39 | Scott
The Shifting Pink Tide Kirchnerism is out of the presidency in Argentina but remains a force to be reckoned with, controlling both houses of congress, whilst Kirchner herself is free
International Military Review ? Syria, November 30, 2015 Mon Nov 30, 2015 16:57 | Scott
Help produce more actual and interesting content, join our struggle by donating via PayPal: email@example.com or via: http://southfront.org/donate/ The Syrian Arab Army (SAA) has deployed newly-arrived Russian T-90 advanced battle
Open Thread while awaiting Saker?s Return on Wednesday Mon Nov 30, 2015 14:40 | Saker-Admin
Here is an open thread for the Saker community to discuss current events. Photo is of Turkish armor moving to Syrian border … webmaster
Crimea SITREP ? by Auslander Mon Nov 30, 2015 13:58 | Saker-Admin
SitRep Sevastopol and Krimea 30.11.2015 While citizens in Sevastopol are getting used to the deprivations from the power cut off, the lack of power is still extant. 1. Russia Army
Short message from the Saker Mon Nov 30, 2015 08:07 | The Saker
Dear friends, I just wanted to let you know that I am sorry for being unable to work on the blog for the past week. The trip to bury my
The Saker >>
Open Letter: Recognition of the Travelling Community as an Ethnic Minority in Ireland Fri Nov 27, 2015 11:56 | Liam Thornton
The Labour Party #repealthe8th Proposals: An Analysis Wed Nov 25, 2015 20:11 | Fiona de Londras
Book Launch: International Human Rights: Perspectives from Ireland, 8 December 2015 Wed Nov 25, 2015 10:21 | Liam Thornton
FLAC: 2016 Thomas Addis Emmet Fellowship Wed Nov 25, 2015 10:04 | Liam Thornton
The Green Party?s Reproductive Rights Policy: An Appraisal Tue Nov 17, 2015 07:55 | Fiona de Londras
Human Rights in Ireland >>
For lefties too stubborn to quit
?Out of this world?? tax returns for November? 09:01 Tue Dec 01, 2015 | WorldbyStorm
Election debates format time? 08:01 Tue Dec 01, 2015 | WorldbyStorm
Another November? 11:48 Mon Nov 30, 2015 | WorldbyStorm
Attendance at Mass 10:19 Mon Nov 30, 2015 | WorldbyStorm
Whatever you say (LP TDs), say nothing 09:14 Mon Nov 30, 2015 | WorldbyStorm
Cedar Lounge >>
Life should be full of strangeness, like a rich painting
The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015
Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015
THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015
ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015
FIANNA FÁIL AND THE BANK INQUIRY : SOME INITIAL OBSERVATIONS 21:04 Mon Jan 12, 2015
Dublin Opinion >>
"The claim of a successful Irish programme is complete rubbish."
Sunday December 15, 2013 22:52 by O. O'C. - The Peoples' Movement
For those who don’t wish to be economical with the truth, and those who are bearing the burden, let’s look at some numbers:
• Number of people employed: Down by 13 per cent since January 2008.
• Number of people unemployed: Up from 107,000 in January 2008 to 296,300 today.
• Annualised domestic growth rate: –1.2 per cent.
• Net emigration: The number of people leaving the country is higher than the number coming in by 35,000. Gross emigration was more than 80,000 last year alone. In six years it went from the highest net immigration level in Europe to the highest emigration, overtaking the Baltic states and Kosovo. Meanwhile a group of students and other young people in Dublin has launched a campaign called “We’re not leaving” after the Government sent out letters encouraging young people to seek jobs abroad.
• Government deficit as a proportion of GDP: 7.3 per cent.
• Public debt: 121 per cent of GDP in 2013, up from 91 per cent in 2010 and 105 per cent in 2011.
• Household debt: 200 per cent of GDP. There are people living on €50 per week or less after paying their bills. We have had eight austerity budgets since 2008; in the community sector there have been cuts of 35 to 40 per cent.
• Value of assets underpinning household debt: –56 per cent since the crisis began.
•Mortgages in arrears for more than six months: 17 per cent of all mortgages.
(Read the whole thing at Blog An Phobail - http://www.irishreferendum.org/ )
The claim of a successful Irish programme is complete rubbish. The government has got its interest rate down through a mix of Troika-ECB backing and confidence in the government’s ability to follow the rules; but all the underlying economic problems are still there, and will not go away. The Irish debt-to-GDP ratio will continue to rise in the foreseeable future.
Since the 1980s Ireland has tried to run its economic policy essentially by appealing to the rest of the world—that is, by “sucking up.” Whatever everyone else is saying, the Irish government will do with gusto. Mix this with a little bit of clever behind-the-scenes diplomacy and you have Irish economic policy.
After the crisis the Fine Gael and Labour Party government essentially followed the formula that is supposed to have worked so well in the 1990s and 2000s. So when the Troika said, Get your bond yields down through compliance ... the government did exactly that.
There is a widespread belief that this will automatically lead to economic growth. This belief is entirely irrational, but that matters little. The politicians have convinced us that, as long as they achieve this target, all else will be well.
There is a profound sense of injustice but also a feeling that we can’t do anything about it: that we’re a small country on the periphery of the EU, powerless against the EU Commission, the ECB, and the IMF. And as long as we avoid the fundamental questions of membership of the euro and our continuing relationship with the EU, it will remain so.
A national debate on these issues would be a first but necessary step to empowering the Irish people once again...