Thursday 21 September 2017

Emperor's clothes

Well done to Alan Dukes for speaking out a number of times in the last few weeks, to point out the almost ridiculously aspirational goals of the fiscal compact treaty.

In particular, in a perhaps little-noticed performance on 'Prime Time', he told a key German ally of Angela Merkel, MEP Elmar Brok, that the problems in Ireland were not caused by government over-spending or breaching the Growth and Stability Pact, but by bad regulation and bad lending by the financial sector.

Thus, the fiscal compact -- which was being pushed by Germany as the solution to the euro debt problem -- would have no relevance here, and it would not have flagged the problems that were to come. This seemed to come as major news to Mr Brok, judging by the reaction on his face. All of this begs the question: was Mr Dukes the first Irish person to really state this factual truth to key German parliamentarians? If so, it begs the question of why our government and its advisers hadn't forcefully said this same thing over the previous two years.

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