Category Archives: Permanent Austerity Treaty / Fiscal Compact / Stability

No: the EU/ECB/IMF/Troika did NOT “bail out Irish banks” nor “rescue” Ireland

… We rescued them. Just to clarify and back up my mention of this on Alan Corcoran’s show on South East Radio last week: Ireland has paid 42% of the total cost of the European banking crisis, at a cost … Continue reading

Posted in banker bailout, Budget, Central Bank of Ireland, Cutbacks / Austerity, ECB, Economy & Employment, ESM / European Stability Mechanism, Exceptional Liquidity Assistance, Fiscal Compact Treaty Referendum, Permanent Austerity Treaty / Fiscal Compact / Stability, Promissory Notes, Statistics | Tagged , , , | Leave a comment

ESRI Forecasting accuracy: Some track record

Buyer Beware on latest government uptalk re: 50,000 jobs predicted by ESRI… Broad comment and criticism of ESRI: Buck Stops Here – Irish Independent, June 2010 The ESRI forecast record (Community Comments) – The Irish Economy Blog, June 2010 ESRI … Continue reading

Posted in Cutbacks / Austerity, Economy & Employment, Permanent Austerity Treaty / Fiscal Compact / Stability, Statistics | Tagged , , , , , | Leave a comment

Sinn Féin in World News

Wall Street Journal – Sinn Fein Gains Clout, Irish Polls Show: Sinn Fein’s campaign to reject the European Union’s new fiscal treaty seems set to fail, but it has succeeded in boosting support for a party that has become the … Continue reading

Posted in ESM / European Stability Mechanism, Irish Referendum, Permanent Austerity Treaty / Fiscal Compact / Stability, Promissory Notes, Quotes, Sinn Féin | Leave a comment

Last Post of Referendum: If you haven’t yet voted, please read this…

John Corcoran (ICTA) writes in an email: At 8.25 am yesterday morning Paul Krugman and John Corcoran spoke simultaneously on BBC radio and advised the Irish people to vote No in the Fiscal Treaty Referendum.  John spoke on BBC radio … Continue reading

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Update/change: Last public referendum meeting – Wexford Town (Tues 8pm St Josephs)

FINAL UPDATE: TUESDAY 29th May           Wexford town Wexford Sinn Féin @St Joseph’s Community Centre, Bishopswater, Wexford Town John Corcoran (Irish Commerical Tenants’ Association) Oisin Ó Conail (Co. Wexford Chairman of Sinn Féin) Cllr Anthony Kelly (Sinn Féin) Our apologies: due … Continue reading

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“A Federation for the Eurozone and a Confederation for the rest of the EU”

(Note: The following replaces & corrects earlier version of 7/May) TWO TREATIES FOR THE EUROZONE AND AN AMENDMENT TO  ONE OF THE EU TREATIES  – ALL RELATED TO EACH  OTHER! Reply to Dr Gavin Barrett, Senior Lecturer in European Law, … Continue reading

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A Tale of Two Treaties: Citizen’s Guide

Ireland is being asked to approve two new international treaties and an amendment to the European Union Treaties. These are: 1. Treaty establishing the European Stability Mechanism (called ‘ESM Treaty’) 2. Treaty on Stability Co-ordination and Governance in the Economic … Continue reading

Posted in Fiscal Compact Treaty Referendum, Irish Referendum, Permanent Austerity Treaty / Fiscal Compact / Stability | Tagged , , , , | Leave a comment

… were Ireland to apply for a second bail-out…

… were Ireland to apply for a second bail-out prior to July 1st 2013, it would be granted if such an application were accompanied by a Memorandum of Understanding negotiated between Ireland, the EU and the IMF – similar to the first bail-out. This funding is not contingent upon the ratification of the Fiscal Treaty.

– Michael Taft, Research Officer with Unite the Union, & Tom McDonnell, policy analyst at TASC.

Source: TheJournal.ie/Progressive-Economy.ie

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The evidence suggests that Ireland will have continued access to EU funding

The evidence suggests that Ireland will have continued access to EU funding until we have regained market access regardless of the outcome of the forthcoming referendum as long as we meet the terms of the programme.

, Lecturer in Economics, University College Cork

Source: economic-incentives.blogspot.com

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Q. Where will we get the money?

Q. Where will we get the money if we vote No on 31 May?

A. Where will the Government get the money to pay the €11 billion the ESM Treaty will require from us, with an open-ended treaty commitment to pay further sums thereafter without limit?

Q. But where will we still get the money ?
A. We will get it by holding a referendum on the Article 136 TFEU amendment and the ESM Treaty, as that is constitutionally necessary in order to authorize these proposals as they stand. The 16 other Eurozone States will have to persuade us to vote Yes in such a referendum if they are to establish the kind of Stability Mechanism which the ESM Treaty envisages. They can do this by agreeing to forgive the private bank debt they have insisted should be imposed on Irish taxpayers, plus the Anglo-Irish promissory notes etc. A referendum can also be used to press the Eurozone authorities to agree a growth strategy for the Eurozone instead of the present failed austerity policies.

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