From Cahir O’Doherty, Irish Central – If Ireland Can’t Pay, Ireland Shouldn’t Pay:
…in Ireland our homegrown golden circle, the men who walk between the raindrops no matter how bad the economic weather, can privatize their profits and socialize their losses.
That’s exactly the kind of political trade-off that caused French aristocrats to lose their heads once.
And let’s also pause to consider just how hard won Irish independence was. Men and women gave their lives to win our sovereignty – and now we’re just going to hand it over the IMF and the EU without a fight because loose banking regulations and government ineptitude created this disaster?
If Ireland can’t pay then Ireland must default and follow the example set in Iceland.
Irish Central’s Niall O’Dowd has pointed out:
A strong majority of Irish people want the government to default on the billions owed to bondholders of Irish banks according to a new Sunday Independent poll…
A new Irish government may face incredible pressure to ease the crippling tax burden on their people and force the bondholders to pay up.
They may also decide that leaving the euro, the source of all the cheap credit that banjaxed the country may be the way to go.