An immaculately boring functionary holds a gun to the head of Irish MinFin Lenihan, ensuring him that either his brains or his signature will be put on the emergency funding document.Hilderink is not optimistic that it will do much of anything. Soon, he writes, the markets will be rattling the gates of Portugal, Spain will be next, Italy is not safe. The emergency fund, whatever its size, can't safe all of the PIIGS.
Taoiseach Brian Cowen is faced with calls to resign. In the face of these he insists Ireland has not given up sovereignty. But many disagree with the Taoiseach, the Irish Examiner, for instance, who published a 'Declaration of Dependence' on the cover. The Irish Times is scathing in its commentary, asking whether the fighters for independence of 1916 really only died for 'a bailout from the German chancellor with a few shillings of sympathy from the British chancellor on the side'. A taste of the resentment brewing on the Emerald Isle can be had in the final paragraph of the commentary, with its ominous sounding promise (or is it a warning?):
To drag this State down from those heights and make it again subject to the decisions of others is an achievement that will not soon be forgiven.Maybe not, but what can the Irish do? They no longer hold the strings of the purse. Those are held by the EC, ECB and IMF. And as His Grace explains thoughtfully: those who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.
Some days ago we discussed a piece by Prof. Morgan Kelly in the Irish Time. In it he warned that the EUnions real concerns lie with Spain and Italy. Making an example of Ireland is an easy way to show that bailouts are not a soft option, and so frighten them into keeping their deficits under control.
There is nothing the Irish can do. There is no measure of sovereignty left with which the Irish can work for themselves. Instead, "The Germans" will impose financial priorities that are not in the interest of Ireland or the Irish, but will ruin the country and impoverish the people. This will now become a reality for Ireland. As prof. Kelly warned, Ireland can only rely on the kindness of strangers.
This is what it all amounts to: The money given to Ireland will not rescue Ireland. It will rescue the Euro, for as long as that will last. But in the process Ireland as a nation-state will have been destroyed.
All you members of the EUnion: Look upon Hibernia and despair! This is the reality of the EUnion post-Lisbon. Their precious single currency, the one big symbol of the EUnions economic and political ambitions is more important than the welfare of the people under its control. Hence, 'quiet assassin' van Rompuy and his henchmen will not flinch from traumatizing the inhabitants of entire member states. They have done it to Ireland. There is no special reason to assume they will not attempt to do so to others.
Which is why the EUnion must be destroyed. Before it destroys us.
Recommended related reading:
Ireland prepares to accept the 'Oliver Cromwell Package'
Just like the rest.
Irish Sovereignty 1922-2010
[UPDATE001] The surrender is now fact: Republic of Ireland confirms EU financial rescue deal. Funny though, the BBC is talking about 100 billion euros. Elsevier (NL) says it's it's 120 billion. Dutch state TV is saying 80 billion. So, which is it? Or is this a function of that wondrous EUnion accounting? You know, that accounting that failed to meet approval of real accountants 16 years in a row. After all, what is 20 billion plus or minus, when it is not you, the EUrocrat, who has to cough up the dough?