Monday 19 March 2018

Austerity overload

• In response to K Nolan and his questioning of the "Nos to everything" (Letters, April 30), it is not a question of a reduction in the necessary austerity being imposed here. It is a question of who gets to impose it, and to what potentially far greater extent.

The previous Fianna Fail government gave away the lion's share of Irish fiscal sovereignty in 2010, admittedly under great external pressure from the European Central Bank, which already controlled monetary policy. This left us with a fraction of the control we used to have over our own financial affairs.

This treaty seeks to impose legal budget restrictions that would mean the country couldn't run a budget deficit without significant repercussive measures from Brussels.

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