I read that Professor Ray Kinsella also said that Ireland should now withdraw from the eurozone –– which many political and financial analysts worldwide believe to be at “serious risk” of collapse.
These experts also say that the only alternative to a eurozone break-up is closer fiscal union which, they predict, will herald even more severe austerity measures. The more the crisis develops, the more it has become evident that there has been a failure of political leadership at the heart of Europe and worldwide. Last night, UCD professor Morgan Kelly predicted that Ireland’s debt will reach €240-€250bn by 2015 – compared to the Government estimate of €200bn
It’s a conundrum. If Ireland stays in the Eurozone, it will flounder. If it leaves the Eurozone, it will eventually return to growth. But the entire political strata is rabidly pro-EUSSR and that is why the debt mountain forced upon it is sold as a virtue when it is a vice. Ireland cannot possibly hope to escape the transgenerational austerity heaped upon the people by the spineless politicians but how to get out when they all want to stay in?