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 DoDo - Oct 5 7 comments
by gmoke - Oct 1 4 comments
by Luis de Sousa - Sep 28 26 comments
by Frank Schnittger - Oct 5 2 comments
by Frank Schnittger - Sep 24 19 comments
by ATinNM - Sep 24 16 comments
by DoDo - Sep 12 26 comments
by DoDo - Sep 10 23 comments
by DoDo - Oct 57 comments
by Frank Schnittger - Oct 52 comments
by gmoke - Oct 14 comments
by Luis de Sousa - Sep 2826 comments
by ATinNM - Sep 2416 comments
by Frank Schnittger - Sep 2419 comments
by gmoke - Sep 23
by DoDo - Sep 1226 comments
by DoDo - Sep 1023 comments