The following is an excerpt from an interesting comment in the Irish Independent this evening, linked here
At the heart of their thinking is a new phenomenon which I believe is a
significant factor in Yes vote support. It can be briefly stated thus:
"Irish people who do not profess to understand the economic complexities
of the fiscal treaty, the European Stability Mechanism, or how much
further the euro has to go before it collapses, no longer want economic
responsibility reverting to Irish politicians, because they can't be
trusted. It is, therefore, better to vote Yes, surrender our future to
the eurozone, and accept austerity government by Germany. Although this
represents the ultimate surrender of Irish sovereignty, the
justification for this is evident in the muddled views of your
Government whose thinking is seen as being akin to last administration,
if there is thinking there at all."
The writer, Bruce Arnold, raises some interesting points on the motivation about the referendum on the EU fiscal treaty, this too is worth recording here:
It is absurd to approve a fiscal treaty which would tie future Irish
governments to balanced budgets and to a 'debt brake'. Doing so in order
to have access to a fund which does not yet exist and which depends on
an ESM treaty not yet ratified is also absurd.
I spent some time in Italy during the early days of the EEC and believed local enthusiam for the project was as much about doubts over the calibre of their domestic politicians and democratic institutions, rather than any particular enthusiasm for the EU project as it was clearly becoming.
Odd is it not, that now the Irish might be sacrificing their sovereignty and hard won independence because they put greater trust in the Germans than their home grown political classes?
Labels: ESM, Fiscal Treaty, Irish Referendum