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.
Austerity can only be implemented in the shadow of a concentration camp.
by Frank Schnittger - Jul 21 93 comments
by afew - Jul 21 15 comments
by Migeru - Jul 24 1 comment
by gmoke - Jul 21 4 comments
by Migeru - Jul 24 55 comments
by Frank Schnittger - Jul 16 61 comments
by Oui - Jul 19 4 comments
by Oui - Jul 23 5 comments
by Migeru - Jul 241 comment
by Migeru - Jul 2455 comments
by Oui - Jul 235 comments
by Frank Schnittger - Jul 2193 comments
by gmoke - Jul 214 comments
by afew - Jul 2115 comments
by Oui - Jul 194 comments
by Frank Schnittger - Jul 1661 comments
by Oui - Jul 623 comments
by Oui - Jul 41 comment
by afew - Jul 248 comments
by gmoke - Jul 15 comments
by Oui - Jul 17 comments
by Frank Schnittger - Jun 3055 comments
by gmoke - Jun 2813 comments
by Oui - Jun 251 comment
by ceebs - Jun 244 comments
by DoDo - Jun 236 comments