Thursday 19 April 2018

Stephen Kinsella: Is the troika more damaging than 800 years of English rule? Discuss

Brutal and bloody riots have become a common sight in Athens. How much more austerity will the Irish tolerate?
Brutal and bloody riots have become a common sight in Athens. How much more austerity will the Irish tolerate?

THE troika aren't our friends. They are not here to help Ireland. They are here to protect the interests of the creditor countries to whom Ireland is in debt. Ireland's banks must be saved to prevent any contagion to other core countries' banking systems.

They think cutting government spending on goods, services and pay while raising taxes is the only way to restore budgetary health and investor confidence. Ireland is a good place to practise this austerity because it worked so well for us in the 1980s.

You hear a version of this argument a lot when talking to people about Ireland's crisis.

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