Ireland has voted and given their approval to the European fiscal pact, in a referendum that was closely watched the averting of a possible setback to the key element of Chancellor Merkel‘s plan on fighting the euro crisis. Although analysts say this is a sign of support for Europe and the single currency, they point out that Ireland still has more serious problems to worry about.
The Irish foolishly took this decision with their eyes closed. We have all seen the trouble in Greece and Spain, the only country thus far that has found the correct solution is Iceland. Why did they not see this why did they double down on a failing currency and an idea that has seen its time pass?
Declan Ganley, a prominent Irish euroskeptic and leader of the Libertas political party, admitted defeat for the “no” campaign. He said Europe now needed to repay Ireland’s trust. “The majority of the electorate here have expressed trust and faith in our partners in Europe to do the right thing by us,” he told reporters. “This was the only democratic exercise on this particular treaty to be carried out in Europe.” If ‘the people’ of other EU nations had the chance to vote on these issues we would have seen a very different result. No one likes to stand alone.
‘The Treaty Will Solve Nothing’
The fiscal pact, a pet project of German Chancellor Angela Merkel, was agreed on by 25 of the EU’s 27 member states at a summit in January. Those nations are committing themselves to stricter budgetary rules, such as reducing their budget deficits to less that 0.5 percent of gross domestic product. Only 12 of the 17 euro zone countries are required to ratify the pact for it to enter into force, but an Irish “no” would have been a setback for the initiative. Ireland is the only country holding a referendum on the pact.
A clause in the treaty states that only countries that sign up to the pact will be granted access to money from the European bailout fund in the future — meaning a “no” vote would have cut Ireland off from possible emergency funding after the current bailout program expires. The government argued that Ireland needed to support the pact in the referendum to keep that option open, even though Dublin hopes to return to financing itself on the bond markets at the end of 2013.
“The treaty will solve nothing, but we’re going to need European money next year, plain and simple,” one Irish “yes” voter told the Associated Press.
So we now see the attitude of the supporters, they chase the money, Money which may or may not come. Why do they not see that they are selling themselves out, they are giving away their country and their sovereignty to a dictatorship from Brussels all for the promise of cash!
Analysts pointed out that the “yes” vote gives Ireland a better chance of returning to the bond markets, but that other problems with the Irish
economy such as high unemployment and lack of growth remain. Ireland has been seen as the poster child among the euro zone’s crisis-hit countries, having dutifully implemented the conditions of its €85 billion ($105 billion) European Union/International Monetary Fund bailout. But it desperately needs economic growth if it is to reduce its public debt, which is set to reach a dangerously high level of 120 percent of gross domestic product next year.
The green tiger has died and the situation needs a complete rethink, signing on to a system that is destined to crash is a fools errand.
Politicians continue to ‘send people up the river’ and the populace do little to fight it, with the turnout in the referendum very low, with fewer than half of Ireland’s 3.1 million registered voters bothering to cast ballots on Thursday people handed control to politicians and bankers.
People need to wake up and take interest, lethargy in a situation as critical as this will see the downfall of all peoples of Eurozone.
I hope and pray the masses energize and organize, this needs to be stopped NOW!!