Tuesday, December 04, 2012

No default Noonan - A new episode in Euro Lalaland!

"We don’t have default even in our vocabulary,” Ireland's Finance Minister,  Mr Noonan is quoted in this morning's Irish Times as declaring, linked here, when informed by the outgoing chief of the Euro Group Jean-Claude Juncker, that neither Portugal nor Greece could presently expect similar largesse as that being applied to Greece.

Elsewhere in the same newspaper, we find this quote in a report on Ireland's latest austerity budget slated to hit the oppressed and EU impoverished nation tomorrow:

The new property tax to be announced in tomorrow’s budget will be reduced slightly as a result of the late addition of the so-called mansion tax for properties worth over €1 million.

So what are thinking people to make of such obvious complete contradictions, well one way to consider it is this, all the debts that caused the banking crisis in Ireland, mass unemployment and emigration of the nation's youth, collapse of the property market and effective ritual slaughter of the Celtic Tiger, have been miraculously solved by the Euro Group, without their members incurring a euro centime of financial loss, neither now, nor at any foreseeable point in the future!

So that's all alright then, is it not?

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