Tag Archives: eurozone

Euro-spawned divergent growth and inflation caused external payments imbalances


Euro-spawned divergent growth and inflation caused external payments imbalances. Government profligacy did not divide ‘saints’ from ‘sinners’. In the good years Germany was a near-sinner. Its budget deficit exceeded the Eurozone average and was a whisker below the 3% Maastricht … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, Budget, Commodities & Cost of Living, Economy, EU, Euro / Sovereign Money, Fiscal Compact Treaty, Germany, ireland, Referendum | Tagged , , , | Leave a comment

Automatic Austerity: 10 things you need to know about ’the Fiscal Compact’ (Corporate Europe Observatory)


On the 1st of March 2012, 25 EU heads of state or government will sign a new treaty[1], and if all goes as planned, it will enter into force early next year. The so called ‘Fiscal Compact’ was conceived in … Continue reading

Posted in Austerity / Cutbacks, Bankers' Bailout, Budget, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fiscal Compact Treaty, Germany, ireland, Referendum | Tagged , , , , , , , , , , , , | Leave a comment

“Italy, Spain tumbling because 1 problematic structure (EFSF) conjured to prop up another (eurozone)” – Varoufakis


From Yanis Varoufakis – Why Italy? Why Spain? And why the EFSF’s size does not matter: Italy and Spain are tumbling because one problematic structure (the European Financial Stability Fund, the EFSF) has been conjured up in order to prop … Continue reading

Posted in Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Greece, ireland, Italy, Spain | Tagged , , , , | Leave a comment

Update: The Panic of 2011 (2)


Irish Left Review, Michael Burke / Socialist Economic Bulletin – Panic on world markets: European (including British) stations are reporting the Wall Street-led declines as a response to the continued debt crisis in Europe. But this makes no sense. An EU … Continue reading

Posted in Bank Run, Bankers' Bailout, Breaking News, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Greece, ireland, Italy, Spain, War & Peace | Tagged , , , , , , , , , , | Leave a comment

The ECB Job: Italy, Spain, Belgium on chopping block


RT – “Back to Feudalism”; Bailout Fallout – Italy, Spain next on Eurozone crisis ‘death list’?: In Europe, borrowing costs for Italy and Spain surged drastically, as traders rush to rid themselves of risky investments. Crisis talks beween Italy and … Continue reading

Posted in Bankers' Bailout, Breaking News, Debt Default/Restructuring, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fraud, Gardaí / Police, Geopolitics, Italy, Spain | Tagged , , , , , , , , , , , | Leave a comment

“Europe is already divided by the eurozone and we are on the wrong side of that divide” (Bruce Arnold / Irish Independent)


From Bruce Arnold at the Irish Independent – We must reject calls to accept more EU control of our budgets: …closer ties with Europe… paved the way for the euro and Ireland’s entry into the mechanism, the worst mistake in … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, Civil Rights & Liberties, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, History, Ideology, Independence/Nationalism, ireland, Solutions, Superstate | Tagged , , , , , , , , , | Leave a comment

Guest Post: The Irish Debacle – the Republic’s path to subordination to the ECB, EU Commission and IMF Troika (Anthony Coughlan)


Future historians will surely see Ireland’s joining the Eurozone in 1999 and abolishing its national currency to adopt the euro as the worst policy mistake ever made by the Irish State. It was an act of gross irresponsibility on the … Continue reading

Posted in Accountability, Bank Run, Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, EU, Euro / Sovereign Money, Geopolitics, Greece, History, Housing Bubble, Ideology, Independence/Nationalism, ireland, Solutions, Superstate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

“Slow-motion bank runs are already in progress in the European periphery… You can see why we’re now at the panic stage.” – Paul Krugman


Via Politics.ie – Nobel Memorial Prize winner Paul Krugman writes in the New York Times – The Euro Living Dangerously: So the ECB keeps saying that restructuring is unthinkable. Yet austerity programs are not working; the prospect of a return … Continue reading

Posted in Bank Run, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, Housing Bubble, ireland | Tagged , , , , , , | Leave a comment

Paul Krugman: Monetary Union experience – Ireland versus Nevada


From The New York Times – Can Europe Be Saved?: The tragedy of the Euromess is that the creation of the euro was supposed to be the finest moment in a grand and noble undertaking: the generations-long effort to bring … Continue reading

Posted in Accountability, Bank Run, Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Ideology, ireland, Solutions, Superstate | Tagged , , , , , , , , , , , , | Leave a comment

Bullshit: the Irish Government’s numbers racket


Lest you think the title contains an unnecessary vulgarity, let me assure you that no less than Princeton University Press has published a monograph by the philosopher Harry Frankfurt, titled: “On Bullshit” – to quote the blurb (worth reading – … Continue reading

Posted in Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Humour, ireland, Leo Varadkar versus the World | Tagged , , , , , | Leave a comment