Saturday, February 28, 2009

Will Germany aid Ireland or the East tomorrow?

The German government, its constitutional court permitting, has shown itself almost desperate to gain the ratification of the Lisbon Treaty. A report in the Irish Times a couple of days ago hinted that aid would thus be forthcoming to the crumbling Irish economy, whose plight within the euro currency zone is vividly illustrated by shoppers daily pouring north across the border, while businesses in the Republic stagnate or collapse. Any help pledged by Germany, however, is likely to come at great cost to the former "tiger economy", a quote from the linked article: German officials suggested yesterday that help for Ireland could be conditional on changes to its corporate tax regime, long a thorn in Berlin’s side. The Economist, once well-informed and insightful, in its Leading Article this weekend plumps for the EU problems necessary for resolution at tomorrow's unusual Sunday meeting as all being centred to the East of the single currency zone. Both are probably correct, the countries outside the euro zone are doomed to suffer grave economic problems as much as are those within. Is the EU of any relevance at all in this global crisis? Tomorrow will be a testing time for those who have sold their citizens down the river to this bureaucratic and cumbersome monstrosity. This blog will have its normal insightful analysis as and when the limited facts are allowed to trickle through to the oppressed citizenry of the EU!

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