Wednesday 21 March 2018

Euroscepticism not grounded in fact

The overtly populist comments by Gay Byrne in relation to the EU seem to echo the eurosceptic sentiments held by many Irish people. Even though he has withdrawn from the presidential race, it is still important to dispel his words. It seems to be forgotten that Ireland's economic woes were largely due to the overreaching of the domestic banking sector with respect to property-related financing.

Had Ireland not joined the eurozone, would the central corporate personalities of the boom years have behaved any differently?

Iceland's non-membership of the EU similarly did not prevent its banking collapse. However, our membership of the EU is having a clear benefit to us with the provision of funding from the ECB. Without such support since 2008, I dare not think what horror scenario would have resulted.

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