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Irish government must respond against arrogant economic ‘government’ plans

16 August, 2011 - by Peadar Tóibín TD


Sinn Féin TD Peadar Tóibín has lambasted the outcome of today’s meeting between Nicolas Sarkozy and Angela Merkel, describing the EU leaders as out of touch with reality and arrogant.

Tóibín said all EU leaders have missed an opportunity to come up with a comprehensive solution to the Eurozone crisis and that it was both presumptuous and condescending of the French and German leaders to decided unilaterally on a way forward for the euro area, even to the point of who should head a so-called economic government.

Deputy Tóibin said:

“The reports from today’s meeting would be laughable if this situation wasn’t so serious. Talk of implementing laws to run balanced budgets when half of Europe is financially imploding is absolute and utter nonsense. This is classic trying to shut the stable door when the horse has already bolted.

“The Irish government should be railing against this plan of an economic government which these two nations’ leaders have been so arrogant to propose on their own, even to the point of suggesting its head. Some Irish commentators have alleged today that it doesn’t matter who decides how our budgets are decided because we have already ceded so much economic sovereignty. They are wrong.

“We are currently subjected to a badly negotiated deal signed off on by the last government and implemented by this one, but that has room to manoeuvre within it. That is completely different to becoming the outpost of a European fiscal federation and having all of our financial matters decided for us.

“An opportunity was missed today to bring together all European leaders to finally and comprehensively find a solution to this crisis which begins with and can be solved by restructuring private bad debts, overhauling taxations systems, curtailing public spending waste and massively stimulating European economies.

“Instead we were treated to another round of charades from politicians who have shown themselves to be economically naïve and dogged in their belief that muddling through will solve this crisis. And throughout this, the Irish government has sat on the sidelines awaiting the crumbs from the dinner table in Paris.

“The Irish government along with all our European counterparts should have been at the table today to negotiate a new deal for Ireland and a Euro wide solution for this crisis that cannot be reduced to simply making statements of intent.” ENDS

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