Thursday 23 November 2017

James Fitzsimons: The problem is we owe too much and matter too little

The situation for the euro is now more unstable than it ever was, writes James Fitzsimons

THIS is no country for old men unless they made hay while the sun shone and so have created a financial cushion for themselves. Those who worked to live, and spent it as they made it, may need to reinvent themselves if they are to survive the austerity that the EU has planned for us.

It's not that things couldn't be better than they are, but we don't rank high enough in the pecking order to be dealt with fairly. We owe too much to foreign banks to be ignored, but we are not important enough to have a say. If the Government had not plunged us head over heels into austerity, the powers-that-be wouldn't tolerate us at all.

They say we have only ourselves to blame for our financial woes. But that is not true. Some people could have worked harder and longer and they should have saved more. Everyone benefitted from the Celtic Tiger, even if it was only that they got to live, for a while at least, in a richer country. Some got rich. Others realised their dreams.

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