For sale, one slightly used country
Published 14/01/2012 | 05:00
• Apparently the troika are demanding that the Irish Government sell off, privatise, €5bn of Ireland's assets and use the money to reduce Ireland's so-called debt.
The Government wants to sell €2bn of assets and use the money to grow the economy and create jobs. Yes, this might be a better option than the troika demands. However, I think that it is a better idea to keep all these assets in state hands, a) because they can continue to provide jobs and income for the country on a continuous basis, and b) because keeping these assets in the Irish people's hands allows their elected Government to exercise control over these assets when necessary.
Furthermore, I would argue that it is wrong for a government to sell off state assets without the people's approval. If it is wrong, it is diabolical for the IMF and some EU bureaucrats and bankers to demand that these assets be sold off, especially when they are demanding that they be sold to make up for the gambling losses of those who made bad investment decisions.