Vote No!

May 18, 2012

I’ve said before Der Euro Ist Fertig, the euro is finished. the question is, can it be fixed and by whom? Its suggested its in the power of Hollande/Merkel to make or break the euro. I agree they can break the euro, but I don’t believe they can make as in fix the euro. In fact, the power of politicians to influence the currency events we are now witnessing, is both limited and much over estimated. We see politicians both surprised and wrong footed by unfolding events.

Some politicians I’m sure think the answer to the euro’s problems is the genie in the bottle financial equivalent FC that can be compared to Christina Anguelera’s

The problem lies deeper in the global economic system than any single set of countries in the EMU can hope to solve.

There will need to be a global solution to the volatility created by the debt genie over the past 30 yrs. Debt in the EMU is revealing fissures, uncertainties, fault lines in the very design of the euro. Unregulated out of control debt will wreak more havoc in global currencies until the fiat system itself is made much safer than it presently is.

Water is rushing in, the euro ballast holes are compromised and breached. The euro will sink.

Members of the EMU need to abandon the euro and make sure the national lifeboats they travel in are as safe and as fit for purpose as possible.

“France’s new administration is set to cause a major headache for the Irish government. Not only have they announced a 30% pay cut to the salary of their head of state and ministers, but they are insisting that the Fiscal Compact be redrafted to include a “chapter” on growth and growth strategy. This morning, the new French finance minister, Pierre Moscovici said the new French government would not ratify the existing Fiscal Compact. Of course the German position seems to remain a stubborn resistance to any change to the Fiscal Compact but you would have to say there is a good chance of some Entente between the two countries. Where will that leave Ireland?”

Compare the French leadership to defend the interests of French people to the leadership provided by our own embarrassing vassals. Simon Coveney TD, director of elections for the Referendum ludicrous campaign was on radio re Richard Bruton’s gaffe and again denied the substance of Bruton’s gaffe:

Not only have the present Govt failed to negotiate a responsible bailout for Ireland, not only have they chosen to hold a referendum that undermines the efforts of decent people to negotiate terms for a decent bailout be it based on ‘growth’ or other measure, not only do they wish us to ratify a Treaty that sells off our constitutional right to self determination, not only does it bind us to unconscionable and odious debt under sanction of ECJ, not only does it bind us to a Treaty that everyone in Europe expects to be binned, but, wait for it (I’m getting there ), this is a real howler:

If the Treaty is not passed, and the FC is amended to contain substantial Hollande changes to its wording, or even minor protocol changes, the’ve made it so that the Irish people will be denied opportunity to vote even on a revised version of the FC?

I mean this is ludicrous nonsense and incompetence of the lowest order. Its almost as embarrassing as the mess they’ve made on negotiating substantial changes to our bailout

No doubt the propaganda machine will whip up more threats as time goes and the above is only the tip of the iceberg.

Are our politicians in contact with the real world? We are left with the dilemma deciding whether the present Govt are incompetent, or they are liars in which case they will hold a referendum again if we vote No.


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