Sunday, May 8, 2011

Wake Up Call

Every Irish citizen should read this article by Morgan Kelly. In a nutshell, it explains why:
  • The EU doesn't give a damn about Ireland and is using it as punchbag to strike fear into other European "partners" such as Spain.
  • Anyone who voted in favour of the Lisbon Treaty because it was good for Ireland was a weak minded and easily led fool.
  • The ECB are not our friends - when the IMF and Britain favoured burning unguaranteed bond holders the ECB and US Treasury torpedoed the plan.
  • Governor of the Central Bank, Saint Patrick Honohan, is actually a toadie of the ECB. He does as he is told by his European overlords despite the tragic consequences his actions have for Ireland.
I'm getting a bit sick of listening to people droning on about how the ECB and EU have been Ireland's salvation. Morgan Kelly's article expertly illustrates how monumentally wrong this assertion is.

The ECB and the EU only care about France and Germany. These countries forged the impossible dream of European Economic and Monetary Union (EMU). They repeatedly broke the terms of the European Stability and Growth Pact yet now have the cheek to lecture others for running high deficits. They are home to banks which irresponsibly lent billions to other badly run banks all over Europe (not just Ireland). They think they can bully small nations, financially crippling them and ruining the futures of many generations of their citizens. They fool their own people into believing that they are selflessly spending billions rescuing basket case economies such as Ireland's in order to mask the reality of the economic war they are waging.

It's about bloody time the Irish government manned up. France and Germany created much of this problem. Their banks are just as badly run as ours were. Their imbecilic plan for EMU prevented countries like Ireland from controlling interest rates when their economies were overheating so that the faltering French and German economies could be kick started. Cheap money supplied by EU regulated banks drove demand for French and German exports in countries such as Ireland. Any French or German citizen who thinks that their tax is being wasted bailing out a country who created their own mess needs to examine the facts. The ECB created this mess by acting in the best interests of Europe's biggest players. Now they want to leave us solely responsible for it. They can feck right off!

Ireland, Portugal and Greece are now paying the price for their own stupidity. However they are also paying an extra premium for the stupidity, arrogance and greed of France and Germany. It is high time we realised this and started fighting back.

Are you listening Enda Kenny?