A Stark Déjà vu

In the years leading up to financial meltdown, despite warnings from many sources, the government refused to accept the reality of what was happening.

We were told the ‘fundamentals were sound’, that there would be a ‘soft landing’ in the property market, that critics should stop ‘talking the country into recession’.

ECB board member Juergen Stark was in Dublin yesterday eerily restating that whole mad reality, this time in respect of the Euro area.

Europe was not heading into a second recession.

The ECB still believed the euro area was heading for an economic “soft patch”.

We should avoid talking ourselves into a recession.

Stark also delivered the, by now, standard pat on the head to the government.

Ireland is the role model for other Eurozone countries.

Ireland shows it is possible to implement (austerity programmes) as long as there is support in the society and a consensus among political parties.

Among those lapping up Dr Stark’s Alice in Wonderland view of reality were Financial Regulator Matthew Elderfield, Alan Dukes of the Irish Bank Resolution Corporation, and UCD economist Colm McCarthy.

Just a few of the amadan’s who are merrily leading Ireland down the road to perdition.

EU officials: No idea what's coming down the tracks

I am confident that the Irish people realise that is it extremely important in the long run to be competitive and prove what they have proved in the past that they are able to cope with difficult periods.

Jean-Claude Trichet, president of the European Central Bank (ECB)

This statement tells me a number of things.

That EU officials have swallowed, hook, line and sinker, the government line that Irish citizens are compliant, loyal citizens more than willing to make any sacrifice to save their economy.

That Irish citizens have full trust in the competence and good intentions of their political leaders.

That EU officials have no inkling whatsoever of how corrupt the Irish political and administrative system is.

That the Irish financial crisis is under control and resources can now be safely switched to dealing with Portugal and Spain.

That they have no idea what’s coming down the tracks.

Ireland as a warning to others?

On the reasonable assumption that the EU/IMF are fully aware that an interest rate of 6.7% will destroy what’s left of our economy there can only be two reasons for such an imposition.

It’s the first shot in a negotiating process.


The EU/IMF have decided that Ireland is expendable, that it’s economic and social destruction could serve as a useful warning to countries like Portugal and Spain to get their act together.

Irish corruption threatens EU and European project

Slowly but surely EU officials are beginning to realise how virulent the Irish corruption disease really is as it begins to not only infect the Euro but threatens to bring down the entire EU project.

But EU officials are only fooling themselves if they think the €85 billion offered tonight to recapitalise the banks and fund the public finances will be enough.

According to Prof. Brian Lucy of Trinity College the total bill, which I believe is down to our corrupt political system, will be about €250 billion, I’ll just repeat that – €250 billion.

I think Brussels is making a serious mistake by under funding the Irish bailout because if it fails the domino effect will accelerate and threaten Portugal and perhaps even Spain.

If that happens, it’s goodbye Euro.

Referendum illegalities

There’s an interesting article in today’s Irish Independent which, among other things, outlines the illegalities committed by the Yes side in the referendum.

The Yes side backed up the deliberate confusion with a number of illegalities committed in the name of the Government, the State and the Referendum Commission. These were non-precedents. They brought the European Commission, its personnel and their staff directly into the campaign, which was unlawful.

It was also unlawful to involve Yes – supporting European political parties in providing funds, in our own Government using public funding in support of one side, and in representing inaccurately the issues.

This should have been regulated by the Referendum Commission. It did no such thing, nor did it fulfill its statutory purpose, which was to explain the text of the referendum amendment on which people voted. At no time did the public get a full and clear indication of this.

The public media, including notably RTE and Newstalk 106, pursued a strongly ‘Yes’ side promotion, contrary to the State’s broadcasting acts that give them their licences.

I agree with the writer’s view that the results leaves almost 600,000 No voters without any significant mainstream party to vote for and the other 1.2 million voters trusting to a hopelessly wishful interpretation of the benefits of voting Yes.

The brutal truth is slowly beginning to dawn on Irish voters – They are misruled and misrepresented by an incompetent, greedy and largely corrupt body politic.

Predictable result – consequences later

As I predicted last November the referendum was passed by a large majority.

Of course, it didn’t take genius to make such a prediction as people will understandably take the safe option when immediate danger presents itself.

The consequence of the decision will only become evident years into the future when, for example, our politicians are casually sending Irish citizens off to war with the words ‘but you voted yes’ ringing in their ears.

The pot calling the kettle black

Foreign Minister, Michael Martin strongly attacked Sinn Fein’s Mary Lou McDonald on the Pat Kenny show last Tuesday.

The extraordinary duplicity and cynicism of Sinn Fein in this campaign is incredible. In Northern Ireland you have opposed every single treaty since 1973. You portray Europe but anti Lisbon, it’s a con job.

In Northern Ireland over the last fifteen years the EU allocated about €1billion for the transformation of Northern Ireland. Talk to Martin McGuinness and people up there who sing the praises of the EU and you come down here then in the South and take a different stance.

It’s appalling cynicism and appalling duplicity and I don’t believe the integrity of the Sinn Fein position on Europe because I think you’re doing it to advance your own political agenda in the Republic and nothing else.

It is disingenuous to say that we can go back to Europe and renegotiate with 26 other countries, that is not reality and you are dishonest to say so

Appalling duplicity and cynicism, con job, (dishonestly) advancing a political agenda, disingenuous, dishonest – all this from a senior member of the most corrupt political party in the country.

How the EU really see us

When RTE reported (5th report) on the United Kingdom Independence Party’s involvement in the Lisbon Treaty referendum they described the event as ‘an intervention’ in the campaign.

When the EU President visited Limerick the national broadcaster reported (3rd report) that José Manuel Barroso was ‘campaigning’ for a Yes vote.

And Barroso didn’t waste much time in his campaigning, he immediately described some opponents of the treaty as absurd liars while handing out what some have described as a €15 million EU bribe to former Dell workers.

Gerry Stembridge, speaking on the Marian Finucane Show (Sunday) said that even Yes voters would be shocked by Barroso’s behaviour.

He went on to say that the Dell announcement was nothing but a vulgar, sleazy bribe and was an indication of how EU officials viewed the Irish. Clearly, somebody has been advising EU officials on how business is done in Ireland.

There was also an incident during the first Lisbon campaign which indicated how we are viewed by our EU colleagues. The EU was in the process of challenging the Irish Taliban law that allows religions to hire and fire teachers and medical staff if they fall fowl of the religious ethos of a school or hospital.

The challenge was dropped in the belief that the backward and religiously oppressed Irish would be more likely to vote Yes if they were allowed to keep their medieval laws.