All Pain, No Gain: The Irish Backlash That Could Mean A 'No' To Europe's Austerity Plans -- The TelegraphWith Ireland getting fed up of belt-tightening, the odds are shortening on a No vote to the referendum on the European fiscal treaty, reports Colin Freeman.
Written in fading letters that no-one any longer believes, the banner above Dublin's Ballymun shopping precinct hails it as "the heart of Europe's most successful urban regeneration project".
Instead, it has become a showpiece not for Ireland's economic success, but its spectacular downfall. The regeneration that transformed parts of Dublin's toughest district into gleaming new flats ground to a halt after the 2008 financial crisis, and today the shopping centre remains as it was, a drab 1960s throwback of boarded-up shops, a fortress-like pub, and a small crowd of drunks who gather out front.
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My Comment: No one likes to pay bills .... especially their debts. Put this on a macro level .... voters will never approve policies that will force them to pay off debts that they strongly feel never benefited them to begin with.
My prediction .... even though polls reveal that the Yes side will win, I still believe that Ireland will vote no .... followed by Greece voting in June for an anti-austerity party that will go out of its way to not participate in paying off their debts.
And then .... with the debt crisis hitting Spain .... the "shit" will hit the fan.
Hmmmm .... this may become a very interesting summer to vacation in Europe.
3 comments:
I live in Ireland, Dublin, and I can tell you it will be a resounding NO...
Thank you D. Plowman for your comment. Your input .... and those of my other readers .... are always appreciated.
oh yes, the economic collapse that was sounded years ago is beginning to come to pass. it was never a matter of if, but a matter of when. I think this is the death of capitalism much like the fall of the ussr was the death of communism. it doesnt work, time for something better!
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