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I won't waste my time with that. I don't need to, naynway: You open up with a spirited defense of the rish corporation tax.

"But the CDU and SPD are not?"

Actually, no. Even the CDU is probably to the left of both major irish parties.

"I did not see any problem in Ireland that was any of my business and which could not be solved with a default. If the Irish want to blow housing bubbles, then that's their problem."

Ah, no. European tribune, remember? Everything in the EU is my business too. If you want to think in nationalistic way, that is not my problem. By the way does that means you will shut up about domestic german politics in future?

"Uh, no. I said that Ireland should not raise taxes in order to pay stupid banksters who placed bets on a real estate bubble."

But even after you factor out all bank related spending, there still is considerable deficit in Ireland.

"Nobody is holding a gun to any foreigner's head and demanding that he buys Irish Treasuries - Ireland, remember, has a current accounts surplus."
 Exactly. That means that your current account deficit (or even trade deficits) argument cause budget deficits is false. But whatever. Fine. Let's cut ireland off. Do you really think the considerable primary deficit will then be financed by domestic irish creditors?

"What I argue is that the Irish central bank"
What central bank? Are you talking about the ECB?

by IM on Sun Aug 14th, 2011 at 09:17:18 AM EST
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