The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Analogously, no individual Irishman is responsible for the economic policy of the Irish government. Or are they? You have argued elsewhere on this thread that they are.
Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
Since the ECB is obviously unresponsive to the plight of Irish widows and orphans, the Irish state has a duty to protect Irish widows and orphans, and incentivise the ECB to start doing its fucking job and printing money on demand at 0.0 % to sovereigns needing stimulus. The easiest way to incentivise proper behaviour from the ECB is to cause pain to the ECB's political backers. Which means causing pain to the Frankfurt-based banks, and which means causing pain to Mrs Merkel's government.
You call it nationalist. I call it realpolitik. If you have some alternate suggestion for how to get the ECB to start providing unlimited stimulus money for the Irish economy at somewhere around the Frankfurt overnight rate, then I'm all ears. But so far you have presented no viable political strategy for how the Irish can continue to do stimulus without defaulting. And you have provided no political strategy - nevermind a credible one - for how the Irish state can obtain the necessary liquidity for continued stimulus without either leaving the -zone or threatening to default on foreigners first, in order to pressure those foreigners' governments to pressure the ECB.
Since you seem so keen on applying collective punishment to Ireland for electing Fianna Fail, you may think of it as applying collective punishment to any polity that doesn't pressure the ECB to start doing its fucking job and printing unlimited money for use in Keynesian stimulus.
Friends come and go. Enemies accumulate.
by Frank Schnittger - Feb 6 67 comments
by THE Twank - Feb 13 15 comments
by generic - Jan 30 7 comments
by Luis de Sousa - Feb 3 99 comments
by Zwackus - Feb 2 58 comments
by Frank Schnittger - Feb 232 comments
by THE Twank - Feb 20
by THE Twank - Feb 1315 comments
by Frank Schnittger - Feb 667 comments
by Luis de Sousa - Feb 399 comments
by Zwackus - Feb 258 comments
by Drew J Jones - Feb 123 comments
by generic - Jan 307 comments
by Drew J Jones - Jan 3085 comments
by Frank Schnittger - Jan 2813 comments
by Gag Halfrunt - Jan 274 comments
by Frank Schnittger - Jan 2712 comments
by Frank Schnittger - Jan 2438 comments
by marco - Jan 2415 comments